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AB-15 Children’s Savings Account Program.(2019-2020)

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Date Published: 12/03/2018 09:00 PM
AB15:v99#DOCUMENT


CALIFORNIA LEGISLATURE— 2019–2020 REGULAR SESSION

Assembly Bill No. 15


Introduced by Assembly Members Nazarian, McCarty, and Ting

December 03, 2018


An act to add Title 19.5 (commencing with Section 99200) to the Government Code, relating to savings accounts.


LEGISLATIVE COUNSEL'S DIGEST


AB 15, as introduced, Nazarian. Children’s Savings Account Program.
Existing law establishes the Every Kid Counts College Savings Program, which requires the Student Aid Commission to implement and administer a grant program that supports local governments and other entities that sponsor one or more comprehensive citywide or regional children’s savings account programs to help families, especially low-income families with young children, establish and maintain college savings accounts.
This bill would express the intent of the Legislature to enact future legislation to establish a universal statewide children’s savings account program, established for each child at entrance into kindergarten, to ensure that California’s children and families save, build assets, and achieve economic mobility.
Vote: MAJORITY   Appropriation: NO   Fiscal Committee: NO   Local Program: NO  

The people of the State of California do enact as follows:


SECTION 1.

 Title 19.5 (commencing with Section 99200) is added to the Government Code, to read:

TITLE 19.5. Children’s Savings Account Program

99200.
 It is the intent of the Legislature to enact future legislation to establish a universal statewide children’s savings account program, established for each child at entrance into kindergarten, to ensure that California’s children and families save, build assets, and achieve economic mobility.