HB19-1280 Summary: College Kickstarter Account Program

• Creates the College Kickstarter Account Program to provide seed funding for college savings accounts for every child born or adopted in Colorado on or after January 1, 2020 through December 31, 2039.

• Provides $100 initial funding for children born before January 1, 2021, and $100 annually adjusted for inflation for children born after that date; parents can claim this funding by opening a college savings account within 5 years of the child's birth or adoption.

• The Colorado Higher Education Authority administers the program through a master account; unclaimed funding after 5 years reverts to the master account for future use rather than being distributed to the child.

• Requires the State Treasurer to develop and administer a free financial literacy education program for eligible children and families if adequate private gifts, grants, and donations are received.

• Mandates annual reporting to the General Assembly on program effectiveness, marketing success, account enrollment rates, and demographic data on participating families and counties.