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LA HB749
Bill
Status
2/27/2026
Primary Sponsor
Kim Carver
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AI Summary
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Authorizes the Louisiana Tuition Trust Authority (LATTA) to contract with an external program manager to administer ABLE, START, and START K12 savings accounts and invest account funds, beginning December 31, 2026 or upon contract execution, whichever is later
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Transfers all savings account funds from the Louisiana Education Tuition and Savings Fund to the program manager, except for the Savings Enhancement Fund which remains with the state treasurer
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Requires the program manager to offer investment options including fixed earnings that ensure principal security, provide annual account statements and tax documents, report quarterly to LATTA on account totals, and report non-qualified disbursements to the Department of Revenue and IRS
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Mandates LATTA notify the Speaker of the House, Senate President, and state treasurer within 24 hours of executing a contract with a program manager
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Transitions interest rate determination and redemption value guarantees for fixed earnings accounts from LATTA/state treasurer to the program manager after December 31, 2026 or contract execution
Legislative Description
Authorizes the Louisiana Tuition Trust Authority to contract with a program manager for the administration of certain savings accounts (ABLE, START, and START K12 programs) and the investment of account funds
FUNDS/INVESTMENTS
Last Action
Read by title, under the rules, referred to the Committee on Education.
3/9/2026