HB 1267 — An Act amending the act of April 3, 1992 (P.L.28, No.11), known as the Tuition Account Programs and College Savings Bond Act, in tuition account program, further providing for declaration of policy, for definitions, for Tuition Account Programs Bureau, for powers of department, for Tuition Account Guaranteed Savings Program, for Tuition Account Investment Program, for general provisions governing both tuition account programs and for Federal taxation; establishing the Keystone Scholars Grant Program and the Keystone Scholars Grant Program Account; and making a repeal.

Bill Text

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This bill amends the Tuition Account Programs Act to broaden the scope of educational savings programs and introduce the Keystone Scholars Grant Program.

• Section 301(5)(iv)

  postsecondary education → elementary, secondary and postsecondary education

  The purpose of the educational savings program is expanded to include elementary and secondary education.

• Section 302

  Tuition credits that are converted for payment of qualified higher education expenses → Tuition credits that are converted for payment of qualified higher education expenses other than tuition

  The definition of 'other educational expense credits' is clarified to include non-tuition related educational expenses.

• Section 303

  postsecondary educational savings → educational savings

  The scope of the Tuition Account Programs Bureau is broadened to include educational savings for all education levels.

• Section 309(g.1)

  Upon the request of the account holder, the department shall permit the use of tuition credits for the payment of qualified education expenses at eligible elementary or secondary educational institutions, subject to an appropriate conversion as determined by the department.

  Tuition credits can now be used for qualified education expenses at eligible elementary and secondary educational institutions.

• Section 309(g.2)

  Upon the request of an account holder, the department shall permit the use of tuition credits to repay qualified education loans, subject to appropriate conversion as determined by the department.

  Tuition credits can now be converted to repay qualified education loans.

• Section 309(g.3)

  Upon the request of an account holder, the department shall permit the use of tuition credits to pay fees, books and supplies for participation in a registered apprenticeship program, subject to an appropriate conversion as determined by the department.

  Tuition credits can be utilized for costs associated with registered apprenticeship programs.

• Section 309.1

  higher

  Terminology is simplified by removing 'higher' from 'higher education expenses' in the context of qualified expenses.

• Section 309.2(b)

  higher

  Terminology is simplified in the regulations governing the time to use contributions for education expenses.

• Section 309.2(d)

  higher

  Terminology is simplified regarding safeguards against excessive contributions to accounts.

• Section 320

  The department shall establish a grant program as part of the Tuition Account Guaranteed Savings Program Fund established under section 306 to be known as the Keystone Scholars Grant Program.

  A new grant program is created to promote access to postsecondary education.

Action History

1. June 26, 2023

   Referred to Finance

2. June 12, 2023

   Third consideration and final passage

3. June 12, 2023

   Re-reported as committed

4. June 07, 2023

   Re-committed to Appropriations

5. June 07, 2023

   Second consideration

6. June 07, 2023

   Re-reported as committed

7. June 06, 2023

   Re-committed to Rules

8. June 06, 2023

   First consideration

9. June 06, 2023

   Reported as committed

10. May 30, 2023

    Referred to Finance

Sponsors

• Pat Gallagher · Primary
• Keith J. Greiner · Cosponsor
• Maureen E. Madden · Cosponsor
• Tim Brennan · Cosponsor
• Steve Samuelson · Cosponsor
• Joe Webster · Cosponsor
• Darisha K. Parker · Cosponsor
• Ryan A. Bizzarro · Cosponsor
• Ed Neilson · Cosponsor
• Perry S. Warren · Cosponsor
• Manuel Guzman · Cosponsor
• Tina M. Davis · Cosponsor
• Malcolm Kenyatta · Cosponsor
• G. Roni Green · Cosponsor
• Danielle Friel Otten · Cosponsor
• Melissa Cerrato · Cosponsor
• Benjamin V. Sanchez · Cosponsor
• Joseph C. Hohenstein · Cosponsor
• Michael H. Schlossberg · Cosponsor

Votes

Subjects