Bill > HB1799

This bill modifies Pennsylvania's Tuition Account Programs and College Savings Bond Act to expand educational savings opportunities and create a new grant program. The bill broadens the existing tuition account programs to allow funds to be used not just for postsecondary education, but also for elementary and secondary education, registered apprenticeship programs, and student loan repayment. It introduces the Keystone Scholars Grant Program, which will automatically establish a $100 grant for eligible children born after December 31, 2018, with the potential for additional contributions and matching funds from the state or private entities. The program aims to promote access to postsecondary education by providing a foundational savings account for each eligible child, with the grant amount growing based on investment earnings. Eligible children are defined as Pennsylvania residents or adopted children of Pennsylvania residents, under 29 years old, who can use the grant for qualified higher education expenses at eligible educational institutions. The bill also updates various definitions, expands the powers of the state treasurer's Tuition Account Programs Bureau, and ensures the program's financial stability by setting limits on fund allocations and requiring annual reporting on the program's actuarial status.

Budget and Finance

https://www.legis.state.pa.us/cfdocs/billinfo/bill_history.cfm?syear=2025&sind=0&body=H&type=B&bn=1799