Bill > HR0783

This resolution declares May 29, 2026, as 529 College Savings Day in Illinois to highlight the rising costs of higher education and the importance of saving for college using Illinois' 529 College Savings Plans, which are tax-advantaged investment accounts established under Section 529 of the Internal Revenue Code that allow for tax-deferred growth and tax-free withdrawals for qualified education expenses. The resolution acknowledges the success of Illinois' Bright Start and Bright Directions plans, administered by the State Treasurer, noting their role in helping families save billions for college and reduce student loan debt, which has become a significant financial burden nationally. It also mentions the Illinois First Steps program, which provides a $50 seed deposit for newborns and adopted children to encourage early savings, and recognizes the national 529 College Savings Day as an opportunity to promote these beneficial savings tools.