CHAPTER 122

HB 1146 – FINAL VERSION

19Feb2014… 0223h

04/17/14 1255s

2014 SESSION

14-2368

05/01

HOUSE BILL 1146

AN ACT establishing a committee to study the feasibility of funding a kindergarten to college/career ready program and a universal college savings account.

SPONSORS: Rep. Gile, Merr 27; Rep. Schlachman, Rock 18; Rep. Grassie, Straf 11

COMMITTEE: Finance

ANALYSIS

This bill establishes a committee to study the feasibility of funding a kindergarten to college/career ready program and a universal college savings account.

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Explanation: Matter added to current law appears in bold italics.

Matter removed from current law appears [in brackets and struckthrough.]

Matter which is either (a) all new or (b) repealed and reenacted appears in regular type.

19Feb2014… 0223h

04/17/14 1255s

14-2368

05/01

STATE OF NEW HAMPSHIRE

In the Year of Our Lord Two Thousand Fourteen

AN ACT establishing a committee to study the feasibility of funding a kindergarten to college/career ready program and a universal college savings account.

Be it Enacted by the Senate and House of Representatives in General Court convened:

122:1 Committee Established. There is established a committee to study the feasibility of creating, structuring, managing, marketing, and funding a kindergarten to college/career (K2C/C) ready program and a universal college savings account, the purpose of which shall be to promote individual financial literacy among low and moderate income families.

122:2 Membership and Compensation.

I. The members of the committee shall be as follows:

(a) Five members of the house of representatives, appointed by the speaker of the house of representatives, one of whom shall be a member of the children and family law committee, one of whom shall be a member of the education committee, one of whom shall be a member of the ways and means committee, one of whom shall be a member of the commerce committee, and one of whom shall be a member of the finance committee.

(b) One member of the senate, appointed by the president of the senate.

II. Members of the committee shall receive mileage at the legislative rate when attending to the duties of the committee.

122:3 Duties. The committee shall study the feasibility of creating, structuring, managing, marketing, and funding a K2C/C ready program and a universal college savings account and asset building program in New Hampshire. The committee shall:

I. Review the structure and success of the K2C ready program in San Francisco and the status of similar programs in Ohio, Nevada, Washington, and elsewhere in the United States.

II. Determine the projected population of kindergarten children to be served.

III. Establish contacts with New Hampshire banks, credit unions, philanthropic organizations, and other area financial services that may be involved in similar efforts.

IV. Explore marketing protocols used in San Francisco and other states.

V. Solicit information and testimony from those individuals, agencies, and entities that may be of assistance to the committee in the performance of its duties, including but not limited to, the state treasurer, a principal of an urban elementary school, and a superintendent of a school district that includes a career and technical education center.

VI. Develop a proposal for New Hampshire, based on projected kindergarten enrollment in 2016, that addresses the anticipated investment per student, guidelines for account maintenance, application procedures, and administrative costs.

122:4 Chairperson; Quorum. The members of the study committee shall elect a chairperson from among the members. The first meeting of the committee shall be called by the first-named house member. The first meeting of the committee shall be held within 45 days of the effective date of this section. Four members of the committee shall constitute a quorum.

122:5 Report. The committee shall report its findings and any recommendations for proposed legislation to the speaker of the house of representatives, the president of the senate, the house clerk, the senate clerk, the governor, and the state library on or before November 1, 2014.

122:6 Effective Date. This act shall take effect upon its passage.

Approved: June 16, 2014

Effective Date: June 16, 2014