Texas Education Code

§ 28.0024 — SCHOOL-BASED SAVINGS PROGRAM

ED § 28.0024Title 2. PUBLIC EDUCATION · Part F. CURRICULUM, PROGRAMS, AND SERVICES · Ch. 28. COURSES OF STUDY; ADVANCEMENT · Art. A. ESSENTIAL KNOWLEDGE AND SKILLS; CURRICULUM

Statute text

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(a)A school district or open-enrollment charter school may establish a school-based savings program to facilitate increased awareness of the importance of saving for higher education and facilitate personal financial literacy instruction. A district or school may offer the program in conjunction with a personal financial literacy course under Section 28.0021.

(b)A school-based savings program may, through partnerships with appropriate institutions, promote:

(1)general savings, by offering savings accounts or certificates of deposit through partner financial institutions; or

(2)savings dedicated for higher education, by offering through partner institutions the following accounts or bonds the primary purpose of which must be to pay expenses associated with higher education:

(A)an account authorized under Section 529, Internal Revenue Code of 1986;

(B)a Coverdell education savings account established under 26 U.S.C. Section 530;

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Legislative history

Added by Acts 2015, 84th Leg., R.S., Ch. 1265 (H.B. 3987), Sec. 1, eff. June 20, 2015.