CT HB05340

Department of Banking shall conduct a study on education savings accounts as defined in Section 530 of the Internal Revenue Code, in consultation with the Department of Revenue Services and Department of Education.

Study shall examine the feasibility of authorizing education savings accounts in the state and analyze potential effects on state income tax revenue, state and local education budgets, and school district enrollment.

Department of Banking must submit findings and recommendations report to joint standing committees on education, finance, and banking no later than January 1, 2019.

Act takes effect upon passage.