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AZ SB1454

Bill

Status

Passed

3/25/2024

Primary Sponsor

Ken Bennett

Click for details

Origin

Senate

Fifty-sixth Legislature - Second Regular Session (2024)

AI Summary

  • Amends section 41-179 of the Arizona Revised Statutes to modify the AZ529 (Arizona's education savings plan) advisory committee membership structure.

  • Allows all committee members except the state treasurer/chairperson to designate representatives to serve in their place, rather than requiring personal attendance.

  • Adds requirement that among three public members, at least one must represent a 501(c)(3) nonprofit organization based in Arizona and at least one must have financial planning experience.

  • Adds one member representing a U.S. Department of Labor-approved apprenticeship program to the committee composition.

  • Grandfathers existing committee members to continue serving until their normal terms expire, with all future appointments following the new statutory requirements.

Legislative Description

AZ529 savings plan; committee; membership

Duties

Last Action

Chapter 15

3/25/2024

Committee Referrals

Rules2/21/2024
Education2/20/2024
Rules1/31/2024
Education Accountability and Reform1/31/2024

Full Bill Text

No bill text available