| TO: | Honorable Allan Ritter, Chair, House Committee on Pensions & Investments |
| FROM: | John Keel, Director, Legislative Budget Board |
| IN RE: | HB3234 by Smith, Todd (Relating to exempting college savings plan accounts from attachment, execution, and seizure for the satisfation of debts.), As Introduced |
HB3234 resolves that College Savings Plan assets, which meet the requirements of Section 529 of the Internal Revenue Code, are exempt from attachment, execution, and seizure for the satisfaction of debts. The bill, if enacted, will have no actuarial effect because it does not propose to change the funding or obligations of any public retirement system.
| Source Agencies: | 338 Pension Review Board
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| LBB Staff: | JK, WM
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