WI SB753

Creates an annual appropriation of $2,000,000 per fiscal year (2025-26 and 2026-27) from the college savings program trust fund to the Department of Financial Institutions for college savings deposits

Eligible children must be born or adopted in Wisconsin, reside in the state, and be designated beneficiaries of a college savings account under s. 224.50

Deposits can be made for qualified higher education expenses either directly or through master/interim holding accounts established by DFI

Adds 1.0 FTE position at DFI to administer the program

Provides $446,900 in fiscal year 2025-26 for implementation and administration, decreasing to $317,900 in fiscal year 2026-27 for ongoing administration