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Legislative Year: 2019 Change
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Bill Detail: HB19-1280

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Title Child College Savings Accounts
Status Governor Signed (05/13/2019)
Bill Subjects
  • Education & School Finance (Pre & K-12)
House Sponsors K. Becker (D)
L. Herod (D)
Senate Sponsors S. Fenberg (D)
House Committee Finance
Senate Committee Finance
Date Introduced 03/27/2019
Description

The bill creates the college kickstarter account program
(kickstarter program) to provide initial funding (kickstarter funding) for
a collegeinvest (authority) college savings account (account) for each

child born in Colorado on or after January 1, 2020, but before January 1,
2040, (eligible child), encourage the parent or parents of each eligible
child to claim the kickstarter funding by establishing an account, and, if
sufficient funding from gifts, grants, and donations is received, provide
a free financial literacy education program for eligible children and their
parent or parents and other family members. The authority is required to
implement and administer the kickstarter program; except that the state
treasurer is required to develop and administer the program component
of free financial literacy education. The authority may adopt rules that it
deems necessary for the implementation and administration of the
kickstarter program.
The authority is required to establish and fund a kickstarter
program master account (master account), provide specified amounts of
annual funding for the master account from its scholarship and matching
grant programs, and designate a specified amount of kickstarter funding
in the master account for each eligible child. The authority must engage
in a robust outreach and marketing program to encourage the parent or
parents of each eligible child to claim the eligible child's kickstarter
funding by opening an account for the eligible child and must transfer all
kickstarter funding claimed from the master account to the eligible child's
account. Kickstarter funding is not counted as income or resources of the
eligible child or the parent or parents of the eligible child for purposes of
determining eligibility or benefit amounts for any state-funded program.
The authority must conduct an ongoing summative evaluation to
collect summative data to evaluate the kickstarter program's effectiveness
over time and must prepare, present to its legislative oversight
committees, and conspicuously post on its website an annual written
report on the results of the ongoing summative evaluation. The college
kickstarter account program fund is created to hold any gifts, grants, and
donations obtained, and the authority and the state treasurer may spend
money from the fund for the purposes of the kickstarter program.

Committee Reports
with Amendments
Full Text
Full Text of Bill (pdf) (most recent)
Fiscal Notes Fiscal Notes (05/30/2019) (most recent)  
Additional Bill Documents Bill Documents
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