Bill
A 5788
Bill A 5788 expands New York's College Choice Tuition Savings Program to cover K-12 education, allowing families to save for elementary and secondary school expenses.
Bill Number: A 5788
Title: Amends the New York State College Choice Tuition Savings Program to Include Elementary and Secondary Schools
Status: Referred to Education
Introduced: February 20, 2025
Classification: Bill
Bill A 5788 aims to expand the New York State College Choice Tuition Savings Program, which currently focuses on higher education, to also encompass savings for elementary and secondary school education. The intent is to provide families with more flexible options for saving for their children's education at all levels, thereby promoting educational savings and financial planning from an earlier age.
Expansion of the Program: The bill proposes to amend the existing College Choice Tuition Savings Program to allow contributions to be used for qualified expenses related to elementary and secondary education, in addition to college tuition.
Qualified Expenses: While the bill does not specify the exact nature of the qualified expenses, it is expected to include tuition, fees, and possibly other educational costs associated with K-12 education.
Tax Benefits: Similar to the existing program, contributions to the expanded savings accounts may offer tax advantages, encouraging families to save for educational expenses.
Families: Parents and guardians of children attending elementary and secondary schools would benefit from the expanded savings options, allowing them to plan financially for their children's education.
Educational Institutions: Public and private elementary and secondary schools may see an increase in funding as families utilize these savings accounts for tuition and related expenses.
State Education System: The bill could impact the overall funding and financial planning within the state's education system, potentially leading to increased enrollment in private schools or enhanced educational opportunities.
Legislative Action: The bill was introduced on February 20, 2025, and has been referred to the Education Committee for further consideration.
Related Bills: This bill is related to several prior-session bills (A 10115, A 8192, A 6795, A 2427) and has a companion bill in the Senate (S 388), indicating ongoing legislative interest in educational savings programs.
Bill A 5788 represents a significant shift in New York's approach to educational savings, broadening the scope of the College Choice Tuition Savings Program to include earlier educational stages. If passed, it could provide families with enhanced financial tools to support their children's education, potentially impacting both public and private schooling options across the state.
Compiled from official sources — confirm details with the bill’s official record.
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