Bill > SB281

This bill modifies the low-income family postsecondary savings accounts incentive program by reducing the number of available program applications from 1,200 to 1,000 per year, and limiting the program's active period to calendar years 2025, 2026, and 2027. Specifically, the bill removes the state treasurer's authority to accept or approve any program applications starting in calendar year 2028. The program allows low-income Kansas families (defined as households with income up to 200% of the federal poverty level) to receive state matching funds for postsecondary education savings accounts, with the state matching dollar-for-dollar contributions up to $600 per year. The bill also modifies the audit process for program withdrawals, requiring the treasurer to retrospectively audit at least 10 withdrawals each year to ensure they are used for qualified educational expenses. If a withdrawal is determined to be non-qualified, the participant must refund the matching portion and may be subject to additional penalties. The treasurer is required to submit reports on the program in 2026, 2027, and 2028, detailing program participation, contributions, and audit results.

Education, Government Affairs

Government Efficiency (S)

https://kslegislature.gov/li/b2025_26/measures/sb281/