With the goal of instilling the value of college-bound culture among students of low- and moderate-income families, HB2869 establishes a Children’s Educational Savings Account program through the Washington state college savings program, and encourages public and private sector funding.
The program will begin no later than July 1, 2019, in ten counties, and will be fully implemented statewide no later than July 1, 2022 The program will make an initial deposit of $25/per account, with additional $50 incentive milestones.
The incentive dollars must be used as defined under section 529 of the internal revenue code.
The program will be evaluated and a report will be submitted to legislature by December 1, 2025.
