CHAPTER 22-B. LOUISIANA STUDENT TUITION

ASSISTANCE AND REVENUE TRUST KINDERGARTEN

THROUGH GRADE TWELVE PROGRAM

§3100.1. Louisiana Student Tuition Assistance and Revenue Trust Kindergarten Through Grade Twelve Program; creation; purpose; legislative intent

A. In order to provide the citizens of Louisiana with financing assistance for education, there is hereby created the Louisiana Student Tuition Assistance and Revenue Trust Kindergarten Through Grade Twelve Program, referred to in this Chapter as the "START K12 Program" or the "program". The program shall consist of the establishment of education savings accounts by individuals, groups, or organizations and provisions for the routine deposit of funds to cover elementary and secondary education costs of a designated beneficiary.

B. The legislature hereby finds that the program created by this Chapter is an official state function, offered through an agency of the state that receives state appropriations.

C.(1) It is the intention of the legislature that the program shall be a qualified tuition program as defined in Section 529 of the federal Internal Revenue Code, as amended. Any provision of this Chapter determined to be in conflict with any requirement of the code as applicable to a qualified tuition program shall be superseded by such code provision to the extent necessary to assure that the program continues to meet the code's definition of a qualified tuition program.

(2) Any requirement of this Chapter determined to be more restrictive than the requirements of the federal Internal Revenue Code as applicable to a qualified tuition program may be modified to conform with code requirements by the Louisiana Tuition Trust Authority in accordance with the Administrative Procedure Act.

Acts 2018, No. 687, §2, eff. May 30, 2018.

NOTE: See Acts 2018, No. 687, §6, relative to the authorized distribution of funds deposited prior to Jan. 1, 2018, to an education savings account.