Session Law

Identifying Information:L. 2001 ch. 179
Other Identifying Information:2001 Senate Substitute for House Bill 2017
Tax Type:Other
Brief Description:An Act establishing the Kansas postsecondary education savings expense fund;amending K.S.A. 2000 Supp. 75-648 and repealing the existing section.
Keywords:


Body:

CHAPTER 179

SENATE Substitute for HOUSE BILL No. 2017


An Act establishing the Kansas postsecondary education savings expense fund;

amending K.S.A. 2000 Supp. 75-648 and repealing the existing section.




Be it enacted by the Legislature of the State of Kansas:

Section 1. K.S.A. 2000 Supp. 75-648 is hereby amended to read as

follows: 75-648. (a) (1) The Kansas postsecondary education savings pro-

gram trust fund is hereby established in the state treasury. Such savings

trust fund shall consist of moneys deposited by depositors in accordance

with this act, moneys acquired from governmental and private sources

and state general fund appropriations, if any. All interest derived from

the deposit and investment of moneys in such savings trust fund shall be

credited to the fund. At the end of any fiscal year, all unexpended and

unencumbered moneys in such savings trust fund shall remain therein

and not be credited or transferred to the state general fund or to any

other fund.

(b) (2) Except as provided in subsection (b), the state treasurer shall

credit all moneys received in connection with the Kansas postsecondary

education savings program to the Kansas postsecondary education savings

program trust fund.

(b) (1) The Kansas postsecondary education savings expense fund is

hereby established in the state treasury. The fund shall consist of moneys

received from the Kansas postsecondary education savings program man-

ager.

(c) (2) All expenses incurred by the treasurer in developing and ad-

ministering the postsecondary education savings program shall be payable

from the Kansas postsecondary education savings program trust expense

fund.

Sec. 2. K.S.A. 2000 Supp. 75-648 is hereby repealed.

Sec. 3. This act shall take effect and be in force from and after its

publication in the statute book.

Approved May 21, 2000.


__________




Date Composed: 09/25/2001 Date Modified: 09/25/2001