Relating to Oregon 529 College Savings Network accounts; appropriating money.
Catchline/Summary:
Directs State Registrar of Center for Health Statistics to send data file containing parents' names and mother's address to State Treasurer for each child born in Oregon to residents of this state. Directs State Registrar of Center for Health Statistics to send data file containing parents' names and mother's address to State Treasurer for each child born in Oregon to residents of this state.certified copy of birth certificate for each child born in Oregon to residents of this state to Oregon 529 College Savings Board].
Requires board] State Treasurer to send notice to parents of child indicated on birth certificate] in data file of opportunity to open college savings account. Directs board to make deposit from Oregon 529 College Savings Network Fund into account with child as designated beneficiary when parent acknowledges intent to establish account. Requires regular contributions by parent to maintain account. Directs board to adopt rules.] Directs Oregon 529 College Savings Board to establish college savings account at request of parent to establish account.
Establishes Oregon College Savings Matching Fund. Continuously appropriates moneys in fund to board. Authorizes board to use moneys in fund, if board finds amount in fund sufficient, to make matching deposits into college savings accounts.Takes effect July 1, 2012.].
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HB 2740 Joint Committee On Ways and Means
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