Establishes the New York state pre-paid tuition plan for tax-free college tuition pre-payment.

The bill establishes the New York state pre-paid tuition plan, allowing individuals to contribute to an account for the pre-payment of college tuition on a tax-free basis. The plan is administered by the state comptroller, who invests the fund's assets and develops marketing plans. Contributions can be made in cash, and the plan provides tax-exempt status for certain distributions. The bill also outlines the rights and obligations of account owners and beneficiaries, including restrictions on using account interests as security for loans.

Establishes the New York state pre-paid tuition plan for tax-free college tuition pre-payment.

The bill establishes the New York state pre-paid tuition plan, allowing individuals to contribute to an account for the pre-payment of college tuition on a tax-free basis. The plan is administered by the state comptroller, who invests the fund's assets and develops marketing plans. Contributions can be made in cash, and the plan provides tax-exempt status for certain distributions. The bill also outlines the rights and obligations of account owners and beneficiaries, including restrictions on using account interests as security for loans.