LB427

Nebraska LB427 establishes an educational savings account for students in kindergarten through twelfth grade at approved or accredited schools.

Nebraska LB427 mandates the State Treasurer to create an educational savings account for students in kindergarten through twelfth grade at approved or accredited public, private, denominational, or parochial schools. The State Treasurer will transfer $1,500 from the Student Savings Account Support Fund into each student's account by July 15 each year. Funds can be withdrawn for qualified educational expenses, including tuition, textbooks, and therapies. The State Treasurer will monitor accounts to prevent fraud and theft, and report any offenses to the Nebraska State Patrol.