CA ACR216

Designates May 29, 2018, as 529 College Savings Day in California to raise awareness about college savings plans.

Recognizes 529 college savings plans as tools offering tax-deferred growth and tax-free withdrawals for qualified higher education expenses including tuition, fees, books, and room and board.

Notes California's ScholarShare 529 plan has grown to $8.4 billion in assets across over 303,000 accounts and distributed over $435 million for qualified education expenses in 2017.

Highlights that California tuition rates increased 100-130 percent from 2006-07 through 2016-17 and that national student loan debt reached $1.4 trillion, making college savings plans important for limiting future debt.