summary
Introduced
05/12/2025
05/12/2025
In Committee
06/02/2025
06/02/2025
Crossed Over
05/29/2025
05/29/2025
Passed
06/25/2025
06/25/2025
Dead
Signed/Enacted/Adopted
06/25/2025
06/25/2025
Introduced Session
2025-2026 Regular Session
Bill Summary
This measure would proclaim May 29, 2025, as 529 College Savings Day.
AI Summary
This resolution formally proclaims May 29, 2025, as 529 College Savings Day, highlighting the importance of 529 college savings plans, which are tax-advantaged investment accounts designed to help families save for higher education expenses. The resolution provides context about the growing challenges of college affordability, noting that average tuition has dramatically increased over the past three decades and student loan debt has risen to $1.77 trillion nationally. It emphasizes the benefits of 529 plans, which offer tax-deferred growth and tax-free withdrawals for qualified educational expenses, and points out that the ScholarShare 529 College Savings Plan, California's state-sponsored plan, has grown to over $16.4 billion in total assets across more than 454,000 accounts. The resolution underscores the economic significance of these savings plans by noting that college graduates earn 59% more than high school graduates and that saving for education can help families limit future student loan debt. The measure instructs the Chief Clerk of the Assembly to distribute copies of the resolution and serves to raise awareness about the importance of proactive college savings strategies.
Sponsors (71)
Robert Garcia (D)*,
Dawn Addis (D),
Cecilia Aguiar-Curry (D),
Patrick Ahrens (D),
Juan Alanis (R),
Joaquin Arambula (D),
Anamarie Avila Farias (D),
Jasmeet Bains (D),
Rebecca Bauer-Kahan (D),
Steve Bennett (D),
Marc Berman (D),
Tasha Boerner Horvath (D),
Mia Bonta (D),
Lisa Calderon (D),
Jessica Caloza (D),
Juan Carrillo (D),
Leticia Castillo (R),
Damon Connolly (D),
Laurie Davies (R),
Carl DeMaio (R),
Diane Dixon (R),
Sade Elhawary (D),
Stan Ellis (R),
Heath Flora (R),
Mike Fong (D),
Jesse Gabriel (D),
James Gallagher (R),
Mike Gipson (D),
Jeff Gonzalez (R),
Mark González (D),
Heather Hadwick (R),
Matt Haney (D),
John Harabedian (D),
Gregg Hart (D),
Josh Hoover (R),
Jacqui Irwin (D),
Corey Jackson (D),
Ash Kalra (D),
Maggy Krell (D),
Tom Lackey (R),
Alex Lee (D),
Josh Lowenthal (D),
Alexandra Macedo (R),
Tina McKinnor (D),
Al Muratsuchi (D),
Liz Ortega (D),
Blanca Pacheco (D),
Diane Papan (D),
Darshana Patel (D),
Joe Patterson (R),
Gail Pellerin (D),
Cottie Petrie-Norris (D),
Sharon Quirk-Silva (D),
James Ramos (D),
Rhodesia Ransom (D),
Robert Rivas (D),
Celeste Rodriguez (D),
Michelle Rodriguez (D),
Chris Rogers (D),
Blanca Rubio (D),
Kate Sanchez (R),
Pilar Schiavo (D),
Nick Schultz (D),
Esmeralda Soria (D),
Catherine Stefani (D),
Tri Ta (R),
Avelino Valencia (D),
Greg Wallis (R),
Buffy Wicks (D),
Lori Wilson (D),
Rick Zbur (D),
Last Action
Chaptered by Secretary of State - Res. Chapter 106, Statutes of 2025. (on 06/25/2025)
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