Bill > HB5543

This bill authorizes the State Treasurer to coordinate West Virginia's SMART529 program, which is a state-sponsored college savings plan, with "Trump Accounts," a federally established program for education savings. The Treasurer can provide account holders with information on how to use, transfer, or roll over funds between these programs, but only as permitted by federal law, and this bill does not allow for unauthorized fund transfers. A "Trump Account" is defined by federal law, specifically 26 U.S. Code § 6434, which outlines a pilot program for contributions to these accounts, and Section 530A of the Internal Revenue Code. An "eligible child" for these accounts is defined as a qualifying child born between January 1, 2025, and January 1, 2029, for whom no prior election has been made, and who is a U.S. citizen.

Budget and Finance

http://www.wvlegislature.gov/Bill_Status/Bills_history.cfm?input=5543&year=2026&sessiontype=RS&btype=bill