SF 324 (LSB 1366XS (5) 86)

SENATE FILE 324

BY  SMITH

A BILL FOR

An Act relating to the Iowa educational savings plan trust by modifying the allowable method of contribution to the trust.
BE IT ENACTED BY THE GENERAL ASSEMBLY OF THE STATE OF IOWA:

    Section 1.  Section 12D.4, subsection 1, paragraph c, Code 2015, is amended to read as follows:
   c.  Contributions to the trust made by participants may only be made in the form of cash.  Married participants may make contributions to the trust in the form of one payment.
EXPLANATION
The inclusion of this explanation does not constitute agreement with

the explanation’s substance by the members of the general assembly.
   This bill relates to the Iowa educational savings plan trust, also known as the Iowa college savings 529 plan, by providing that married participants may make contributions to the trust in the form of one payment.