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HB 749

FUNDS/INVESTMENTS: Authorizes the Louisiana Tuition Trust Authority to contract with a program manager for the administration of certain savings accounts (ABLE, START, and START K12 programs) and the investment of account funds (EN +$4,000,000 GF EX See Note)

2026 Regular Session Introduced by Kim Carver and 1 co-sponsor

Louisiana authorizes outsourcing administration and investment management of ABLE, START, and START K12 education/disability savings accounts to a private program manager.

Effective date: 06/02/2026.
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Bill Summary · HB 749

Legislative bill overview

HB 749 authorizes the Louisiana Tuition Trust Authority to hire a private program manager to administer three tax-advantaged savings accounts: ABLE accounts (for individuals with disabilities), START accounts (for post-secondary education), and START K12 accounts (for K-12 education). The bill essentially outsources operational management and investment decisions for these state-sponsored savings programs to a contracted third party.

Why is this important

These accounts help Louisiana residents save for education and disability-related expenses with tax benefits. The efficiency of administration and investment returns directly affect how much families can accumulate. Choosing the right program manager can significantly impact account growth, fee structures, and accessibility for participating families.

Potential points of contention

  • Private profit incentives vs. public benefit: Program managers may prioritize fees and investment products that benefit their bottom line rather than maximizing returns for account holders
  • Accountability and oversight: Outsourcing raises questions about state oversight of how funds are invested and whether performance standards are adequately monitored
  • Competitive selection process: The bill doesn't specify how the manager will be selected or whether it requires competitive bidding, potentially opening doors to non-competitive contracting

Compiled from official sources — confirm details with the bill’s official record.

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