SCS SB 772 -- MISSOURI HIGHER EDUCATION SAVINGS PROGRAM

SPONSOR:  Scott (Cunningham)

COMMITTEE ACTION:  Voted "do pass by consent" by the Committee on
Financial Institutions by a vote of 12 to 0.

Currently, the minimum time for holding investments in the
Missouri Higher Education Savings Program is 12 months.  This
substitute removes the 12-month holding requirement and the
expiration date for the provisions regarding the Missouri Higher
Education Deposit Program.

FISCAL NOTE:  No impact on state funds in FY 2011, FY 2012, and
FY 2013.

PROPONENTS:  Supporters say that the bill will allow the Missouri
Higher Education Savings Program to be more competitive with
other states.

Testifying for the bill were Senator Scott; Office of the State
Treasurer; and Missouri Bankers Association.

OPPONENTS:  There was no opposition voiced to the committee.

Missouri House of Representatives
95th General Assembly, 2nd Regular Session
Last Updated September 14, 2010 at 3:15 pm