Nevada 2019 Regular Session Status: Enacted

SB 82 — Revises provisions relating to education. (BDR 31-479)

Last action — Chapter 599.

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  1. ✓
    Introduced
  2. ✓
    In Committee
  3. ✓
    Passed Senate
  4. ✓
    Passed Assembly
  5. ✓
    To Executive
  6. 6
    Enacted

This bill has been enacted into law. Introduced November 20, 2018. Enacted.

Prognosis

Advancing 50% · moderate confidence

Where this bill stands today.

Odds of enactment

High

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  • Enacted

    Current position in the legislative process.

  • 1 sponsor

    1 primary, 0 co-sponsors signed on.

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Summary

AN ACT relating to education; revising the membership of the Board of Trustees of the College Savings Plans of Nevada; revising provisions relating to the administration of the Nevada Higher Education Prepaid Tuition Trust Fund; revising provisions governing the Nevada College Kick Start Program; revising provisions relating to the Endowment Account in the State General Fund; and providing other matters properly relating thereto.

Bill Text

What changed in the latest version

258 added · 267 removed

258 line(s) added, 267 removed.

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EXEMPT (Reprinted with amendments adopted on June 3, 2019) THIRD REPRINT S.B.
Senate Bill No.
82 SENATE BILL NO .
82–Committee on Education CHAPTER..........
82–COMMITTEE ON E DUCATION (O NB EHALF OF THE STATE T REASURER ) PREFILED N OVEMBER 20, 2018 ____________ Referred to Committee on Education SUMMARY—Revises provisions relating to education.
(BDR 31-479) FISCAL NOTE:
Effect on Local Government:
No.
Effect on the State:
No.
~ EXPLANATION – Matter in bolded italics is new;
matter between brackets [omitted material] is material to be omitted.
Legislative Counsel’s Digest:
LegiThe Board of Trustees of the College Savings Plans of Nevada was created under existing law to oversee the Nevada Higher Education Prepaid Tuition Program and the Nevada College Savings Program.
under existing law to oversee the Nevada Higher Education Prepaid Tuitioned Program and the Nevada College Savings Program.
and (2) reduce the number of defines the term “marketing” for the purposes of the provisions prescribing theill duties of the Board regarding the programs.
and (2) reduce the number of voting members appointed by the Governor from three to two.
Section 2 of this bill makes a conforming change.
Section 1 of this bill defines the term “marketing” for the purposes of the provisions prescribing the conforming change.d regarding the programs.
Existing law:
Section 2 of this bill makes a Existing law:
Existing law also requires that any employees hired by the State Treasurer to administer the Nevada Higher Education Prepaid Tuition Program be paid out of the assets of requirement to pay such employees out of the assets of the Trust Fund.ates the - *SB82_R3* – 2 – Under existing law, the Board is required to establish the Nevada College Kick Start Program to create college savings accounts for pupils who are enrolled in kindergarten in public schools in Nevada and are residents of Nevada.
Existing law also requires that any employees hired by the State Treasurer to administer the Nevada Higher Education Prepaid Tuition Program be paid out of the assets of the Trust Fund.
(NRS 353B.140, 353B.150) Section 4 of this bill eliminates the requirement to pay such employees out of the assets of the Trust Fund.
Under existing law, the Board is required to establish the Nevada College Kick Start Program to create college savings accounts for pupils who are enrolled in kindergarten in public schools in Nevada and are residents of Nevada.
The Endowment Account is required to be used for the deposit of any money received by the Nevada College Savings Program that is not received pursuant to a savings trust agreement and which the State Treasurer State Treasurer is authorized to expend money in the Endowment Account forities.
The Endowment Account is required to be used for the deposit of any money received by the Nevada College Savings Program that is not received pursuant to a savings trust agreement and which the State Treasurer determines is not necessary for certain administration and marketing activities.
The purposes related to the funding of college savings accounts under the Nevada College Kick Start Program, the Governor Guinn Millennium Scholarship Program, administrative and marketing costs related to the Nevada Higher Education Prepaid Tuition Program and the Nevada College Savings Program and programs for the financial education of residents of this State.
The State Treasurer is authorized to expend money in the Endowment Account for College Kick Start Program, the Governor Guinn Millennium Scholarship Program, administrative and marketing costs related to the Nevada Higher Education Prepaid Tuition Program and the Nevada College Savings Program and programs for the financial education of residents of this State.
(NRS 353B.350) Section 6 of this bill increases the amount of money the State Treasurer is authorized to expend from the Prepaid Tuition Program and the Nevada College Savings Program.her Education Existing law authorizes the Board to accept and expend on behalf of the Nevada College Savings Trust Fund money provided by a private entity for administrative costs and marketing, but specifies that such money is not part of the Trust Fund.
(NRS 353B.350) Section 6 of this bill increases the amount of money the State Treasurer is authorized to expend from the Endowment Account for marketing costs related to the Nevada Higher Education Prepaid Tuition Program and the Nevada College Savings Program.
(NRS 353B.360) Section 7 of this bill expands such authority to allow the Board to apply for and accept grants and to accept any gift, bequest, devise or other donation provided by a public entity for administrative costs or costs of Kick Start Program.
- 80th Session (2019) – 2 – Existing law authorizes the Board to accept and expend on behalf of the Nevada College Savings Trust Fund money provided by a private entity for administrative costs and marketing, but specifies that such money is not part of the Trust Fund.
(NRS 353B.360) Section 7 of this bill expands such authority to allow other donation provided by a public entity for administrative costs or costs ofe or marketing the Nevada College Savings Program, including the Nevada College Kick Start Program.
EXPLANATION – Matter in bolded italics is new;
matter between brackets [omitted material] is material to be omitted.
353B.001 As used in this chapter, unless the context otherwise requires, the words and terms defined in NRS 353B.002 [and] , - *SB82_R3* – 3 – 353B.004 and section 1 of this act have the meanings ascribed to them in those sections.
353B.001 As used in this chapter, unless the context otherwise requires, the words and terms defined in NRS 353B.002 [and] , 353B.004 and section 1 of this act have the meanings ascribed to them in those sections.
[(3) Three] (d) Two members appointed by the Governor.
[(3) Three] - 80th Session (2019) – 3 – (d) Two members appointed by the Governor.
is appointed;
(a) Serves for a term of 4 years [;] or until his or her successor is appointed;
for a term of 4 years [;] or until his or her successor (b) Except as otherwise provided in paragraph (c), may be reappointed by the Governor;
(b) Except as otherwise provided in paragraph (c), may be reappointed by the Governor;
[The term of office of the Chair is 1 year.] 5.
[The term of office of the Chair is year.] 5.
6.
Nevada” includes the Nevada Higher Education Prepaid Tuitionlans of Program set forth in NRS 353B.010 to 353B.190, inclusive, and the Nevada College Savings Program set forth in NRS 353B.300 to 353B.370, inclusive, including the Nevada College Kick Start Program.
As used in this section, the term “College Savings Plans of Nevada” includes the Nevada Higher Education Prepaid Tuition - *SB82_R3* – 4 – Program set forth in NRS 353B.010 to 353B.190, inclusive, and the Nevada College Savings Program set forth in NRS 353B.300 to 353B.370, inclusive, including the Nevada College Kick Start Program.
(c) Shall manage any account associated with the Trust Fund;
- 80th Session (2019) – 4 – (c) Shall manage any account associated with the Trust Fund;
[, who must be paid out of the assets of the Trust Fund;] and (g) May perform any other duties necessary to administer the Trust Fund.
[, who must be paid out of the assets of the Trust Fund;] and Trust Fund.perform any other duties necessary to administer the Sec.
353B.335 NR1.
5.
The Board shall establish the Nevada College:
NRS 353B.335 is hereby amended to read as follows:
Kick Start Program to provide for the creation of [a college savings] commencement of his or her enrollment in kindergarten at a public school in this State.
353B.335 1.
The Board shall establish the Nevada College Kick Start Program to provide for the creation of [a college savings] an account for each pupil who is a resident of this State upon commencement of his or her enrollment in kindergarten at a public school in this State.
(c) The time within which the money in the account created pursuant to subsection 1 must be used;
pursuant to subsection 1 must be used;
and (d) Distributions from an account created pursuant to subsection 1.
andthe account created (d) Distributions from an account created pursuant to subsection 1.
Show all 61 changed rows (21 more)
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- *SB82_R3* – 5 – 3.
3.
(b) Is otherwise remaining after expiration of the time prescribed in the regulations adopted pursuant to subsection 2 within which the money in the account must be used.
- 80th Session (2019) – 5 – (b) Is otherwise remaining after expiration of the time prescribed in the regulations adopted pursuant to subsection 2 within which the money in the account must be used.
The State Treasurer shall establish such accounts as he or she determines necessary to carry out his or her duties pursuant to NRS 353B.300 to 353B.370, inclusive, including, without limitation:
The State Treasurer shall establish such accounts as he or she determines necessary to carry out his or her duties pursuant to limitation:0 to 353B.370, inclusive, including, without (a) A Program Account in the Trust Fund;
(a) A Program Account in the Trust Fund;
The Program Account must be used for the receipt, agreements.and disbursement of money pursuant to savings trust 4.
The Program Account must be used for the receipt, investment and disbursement of money pursuant to savings trust agreements.
The Administrative Account must be used for the deposit College Savings Program and to supplement the administration and marketing of the Nevada Higher Education Prepaid Tuition Program set forth in NRS 353B.010 to 353B.190, inclusive.
4.
The Administrative Account must be used for the deposit and disbursement of money to administer and market the Nevada College Savings Program and to supplement the administration and marketing of the Nevada Higher Education Prepaid Tuition Program set forth in NRS 353B.010 to 353B.190, inclusive.
[The] Except as otherwise provided in NRS 353B.360, the money in the Endowment Account may be expended for any purpose related to:
[The] Except as otherwise provided in expended for any purpose related to:ment Account may be (a) The funding of [college savings] accounts created under the Nevada College Kick Start Program established pursuant to NRS 353B.335;
(a) The funding of [college savings] accounts created under the Nevada College Kick Start Program established pursuant to NRS 353B.335;
(b) The Governor Guinn Millennium Scholarship Program created pursuant to NRS 396.926, including, without limitation, the costs of administering the Program, but such costs must not exceed an amount equal to 3 percent of the anticipated annual revenue to the State of Nevada from the settlement agreements with and civil actions against manufacturers of tobacco products anticipated for deposit in the Trust Fund;
(b) The Governor Guinn Millennium Scholarship Program created pursuant to NRS 396.926, including, without limitation, the costs of administering the Program, but such costs must not exceed - *SB82_R3* – 6 – an amount equal to 3 percent of the anticipated annual revenue to the State of Nevada from the settlement agreements with and civil actions against manufacturers of tobacco products anticipated for deposit in the Trust Fund;
(c) The administrative costs, as approved by the Legislature or the Interim Finance Committee, of activities related to the Nevada - 80th Session (2019) – 6 – Higher Education Prepaid Tuition Program set forth in NRS 353B.010 to 353B.190, inclusive, and the Nevada College Savings Program set forth in NRS 353B.300 to 353B.370, inclusive, including the Nevada College Kick Start Program;
(c) The administrative costs, as approved by the Legislature or the Interim Finance Committee, of activities related to the Nevada Higher Education Prepaid Tuition Program set forth in NRS 353B.010 to 353B.190, inclusive, and the Nevada College Savings Program set forth in NRS 353B.300 to 353B.370, inclusive, including the Nevada College Kick Start Program;
(d) The costs of marketing related to the Nevada Higher Education Prepaid Tuition Program set forth in NRS 353B.010 to 353B.190, inclusive, and the Nevada College Savings Program set forth in NRS 353B.300 to 353B.370, inclusive, including the Nevada College Kick Start Program, but such costs must not exceed Account , other than money deposited pursuant to NRS 353B.360, that was received during the first fiscal year of the immediately preceding biennium by the Nevada College Savings Program, was not received pursuant to a savings trust agreement and, in the determination of the State Treasurer, was not necessary for the use of the Administrative Account;
(d) The costs of marketing related to the Nevada Higher Education Prepaid Tuition Program set forth in NRS 353B.010 to 353B.190, inclusive, and the Nevada College Savings Program set forth in NRS 353B.300 to 353B.370, inclusive, including the Nevada College Kick Start Program, but such costs must not exceed an amount equal to [3] 7 percent of the money in the Endowment Account , other than money deposited pursuant to NRS 353B.360, that was received during the first fiscal year of the immediately preceding biennium by the Nevada College Savings Program, was not received pursuant to a savings trust agreement and, in the determination of the State Treasurer, was not necessary for the use of the Administrative Account;
or (e) The costs of providing programs for the financial education of residents of this State, but such costs must not exceed an amount equal to 3 percent of the money in the Endowment Account that was received during the first fiscal year of the immediately preceding biennium by the Nevada College Savings Program, was not received pursuant to a savings trust agreement and, in the determination of the State Treasurer, was not necessary for the use of the Administrative Account.
or (e) The costs of providing programs for the financial education equal to 3 percent of the money in the Endowment Account that wasunt received during the first fiscal year of the immediately preceding pursuant to a savings trust agreement and, in the determination of the State Treasurer, was not necessary for the use of the Administrative Account.
353B.360 The Board may apply for and accept a grant and may accept [and expend on behalf of the Trust Fund money] any gift, bequest, devise or other donation provided by a public or private [entities] source for [direct expenses] administrative costs or costs of marketing the Nevada College Savings Program set forth in NRS 353B.300 to 353B.370, inclusive, including the Nevada College Kick Start Program, in accordance with the provisions of NRS 353.150 to 353.245, inclusive.
353B.360 The Board may apply for and accept a grant and may accept [and expend on behalf of the Trust Fund money] any gift, bequest, devise or other donation provided by a public or private [entities] source for [direct expenses] administrative costs or in NRS 353B.300 to 353B.370, inclusive, including the Nevadarth College Kick Start Program, in accordance with the provisions of NRS 353.150 to 353.245, inclusive.
The terms of the members of the Board of Trustees of the College Savings Plans of Nevada created by NRS 353B.005 who were appointed pursuant to sub-paragraph (3) of paragraph (a) of subsection 2 of NRS 353B.005, as that section existed on - *SB82_R3* – 7 – June 30, 2019, and who are incumbent on June 30, 2019, expire on tha2.datOn or before July 1, 2019, the Governor shall appoint two members of the Board of Trustees of the College Savings Plans of Nevada created by NRS 353B.005 pursuant to paragraph (d) of subsection 2 of NRS 353B.005, as amended by section 1 of this act, to terms commencing on July 1, 2019.
The terms of the members of the Board of Trustees of the College Savings Plans of Nevada created by NRS 353B.005 who were appointed pursuant to sub-paragraph (3) of paragraph (a) of subsection 2 of NRS 353B.005, as that section existed on June 30, 2019, and who are incumbent on June 30, 2019, expire on that date.
2.
On or before July 1, 2019, the Governor shall appoint two members of the Board of Trustees of the College Savings Plans of - 80th Session (2019) – 7 – Nevada created by NRS 353B.005 pursuant to paragraph (d) of subsection 2 of NRS 353B.005, as amended by section 1 of this act, to terms commencing on July 1, 2019.
This section and section 8 of this act become effective upon passage and approval.
This section and section 8 of this act become eff2.tivSections 1 to 7, inclusive, of this act become effective on July 1, 2019.
2.
~~~~~ 19 - 80th Session (2019)
Sections 1 to 7, inclusive, of this act become effective on July 1, 2019.
H - *SB82_R3*
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Amendments

3 amendments

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Action History

  1. Chapter 599.

  2. Approved by the Governor.

  3. Enrolled and delivered to Governor.

  4. To enrollment.

  5. Read third time. Amended. (Amend. No. 1091.) Reprinting dispensed with. Read third time. Passed, as amended. Title approved. (Yeas: 21, Nays: None.) To printer. From printer. To re-engrossment. Re-engrossed. Second reprint. To Assembly. In Assembly. Read first time. Referred to Committee on Ways and Means. To committee. From committee: Amend, and do pass as amended. Declared an emergency measure under the Constitution. Read third time. Amended. (Amend. No. 1132.) Dispensed with reprinting. Read third time. Passed, as amended. Title approved. (Yeas: 41, Nays: None, Vacant: 1.) To printer. From printer. To reengrossment. Reengrossed. Third reprint. To Senate. In Senate. Assembly Amendment No. 1132 concurred in.

  6. From committee: Amend, and do pass as amended. Placed on General File.

  7. From printer. To engrossment. Engrossed. First reprint. To committee. Exemption effective.

  8. Read second time. Amended. (Amend. No. 131.) Re-referred to Committee on Finance. To printer.

  9. From committee: Amend, and do pass as amended.

  10. Notice of eligibility for exemption.

  11. Read first time. To committee.

  12. From printer.

  13. Prefiled. Referred to Committee on Education. To printer.

Sponsors

  • Senate Committee on Education · Primary

Sponsorship breakdown

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1 sponsors · 0 co-sponsors · 66 not signed on

Sponsors (1)

  • Senate Committee on Education

Co-sponsors (0)

None.

Not signed on (66)

66 members have not signed on to this bill.

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"Not signed on" means a member has not sponsored or co-sponsored this bill — it does not imply opposition. Members flagged Voted No have a recorded No vote on this bill.

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Subjects

education
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Frequently asked questions

What does SB 82 do?
AN ACT relating to education; revising the membership of the Board of Trustees of the College Savings Plans of Nevada; revising provisions relating to the administration of the Nevada Higher Education Prepaid Tuition Trust Fund; revising provisions governing the Nevada College Kick Start Program; revising provisions relating to the Endowment Account in the State General Fund; and providing other matters properly relating thereto.
Who sponsors SB 82?
SB 82 is sponsored by Senate Committee on Education.
What is the current status of SB 82?
This bill has been enacted into law. Introduced November 20, 2018. Enacted.
Where can I track SB 82?
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