Senate
File
324
-
Introduced
SENATE
FILE
324
BY
SMITH
A
BILL
FOR
An
Act
relating
to
the
Iowa
educational
savings
plan
trust
by
1
modifying
the
allowable
method
of
contribution
to
the
trust.
2
BE
IT
ENACTED
BY
THE
GENERAL
ASSEMBLY
OF
THE
STATE
OF
IOWA:
3
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324
Section
1.
Section
12D.4,
subsection
1,
paragraph
c,
Code
1
2015,
is
amended
to
read
as
follows:
2
c.
Contributions
to
the
trust
made
by
participants
may
only
3
be
made
in
the
form
of
cash.
Married
participants
may
make
4
contributions
to
the
trust
in
the
form
of
one
payment.
5
EXPLANATION
6
The
inclusion
of
this
explanation
does
not
constitute
agreement
with
7
the
explanation’s
substance
by
the
members
of
the
general
assembly.
8
This
bill
relates
to
the
Iowa
educational
savings
plan
9
trust,
also
known
as
the
Iowa
college
savings
529
plan,
by
10
providing
that
married
participants
may
make
contributions
to
11
the
trust
in
the
form
of
one
payment.
12
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