AB1039,5,23
2014.57 College savings program board Same, attached boards. (intro.)
21There is created a college savings program board that is attached to the
department
22of administration state treasurer under s. 15.03 and that consists of all of the
23following members:
AB1039,5,24
24(1) The
secretary of administration state treasurer or his or her designee.
AB1039,7
25Section 7
. 16.255 (1) (intro.) of the statutes is amended to read:
AB1039,6,2
116.255
(1) (intro.) The department shall determine the factors to be considered
2in selecting a vendor of the program under s.
16.641
14.64, which shall include:
AB1039,8
3Section 8
. 16.255 (3) (d) of the statutes is amended to read:
AB1039,6,54
16.255
(3) (d) That the vendor communicate to the beneficiary and account
5owner the requirements of s.
16.641 14.64 (8).
AB1039,9
6Section
9. 16.40 (21) of the statutes is renumbered 14.58 (3) and amended to
7read:
AB1039,6,148
14.58
(3) Administrative services
provided to the board of commissioners of
9public lands; accounting. Render an accounting to the board of commissioners of
10public lands for the costs of all administrative services provided by the
department
11and other state agencies, as defined in s. 20.001 (1), state treasurer to the board.
All
12moneys received from the board under s. 24.64 for the costs of administrative services
13provided by the department and other state agencies shall be deposited in the
14general fund.
AB1039,10
15Section 10
. 16.401 (title) of the statutes is repealed.
AB1039,11
16Section 11
. 16.401 (intro.) of the statutes is repealed.
AB1039,12
17Section 12
. 16.401 (1) of the statutes is repealed.
AB1039,13
18Section
13. 16.401 (2) of the statutes is renumbered 14.58 (2) and amended
19to read:
AB1039,6,2120
14.58
(2) Issue receipts. Issue receipts for all money paid to the
department 21state treasurer.
AB1039,14
22Section
14. 16.401 (3) of the statutes is renumbered 14.58 (3).
AB1039,15
23Section
15. 16.401 (4) of the statutes is renumbered 14.58 (4m) and amended
24to read:
AB1039,7,12
114.58
(4m) Pay on warrants sums authorized by law. (a) Pay out of the
2treasury, on demand, upon the warrants of the department
of administration, except
3as provided in s. 20.929, such sums only as are authorized by law to be so paid, if there
4are appropriate funds therein to pay the same, and, when any sum is required to be
5paid out of a particular fund, pay it out of such fund only; and upon each such
6warrant, when payment is made in currency, take the receipt endorsed on or annexed
7thereto, of the payee therein named or an authorized agent or assignee. The
8secretary state treasurer shall accept telephone advice believed by him or her to be
9genuine from any public depository, as defined in s. 34.01 (5), stating that a specified
10amount of money has been deposited with such public depository for the credit of the
11state
treasurer, and shall act upon such telephone advice as though it had been in
12writing.
AB1039,7,1913
(b) When in the judgment of the
secretary state treasurer balances in state
14public depository accounts are temporarily in excess of that required under par. (a),
15the
treasurer, with the concurrence of the secretary
of administration, may
transfer
16the excess balance to authorize the preparation of a warrant in excess of the funds
17contained in the investment fund for the purpose of investment only. The earnings
18attributable to the investment of temporary excess balances shall be distributed as
19provided in sub.
(14) (19).
AB1039,16
20Section
16. 16.401 (5) of the statutes is renumbered 14.58 (5) and amended
21to read:
AB1039,8,222
14.58
(5) Account for interest. Pay into the treasury and account for all sums
23directly or indirectly received by the
secretary
treasurer by virtue of the
secretary's 24treasurer's office, or as interest or compensation for the use, deposit, or forbearance
1of any state moneys in the
secretary's
treasurer's hands or under the
secretary's 2treasurer's control.
AB1039,17
3Section
17. 16.401 (6) of the statutes is renumbered 14.58 (6) and amended
4to read:
AB1039,8,165
14.58
(6) Keep cash and fund accounts. Keep records showing the number,
6date, and amount of each cash receipt issued by the
department treasurer's office and
7classify said receipts by state funds; submit a summary statement of collections by
8fund together with a copy of each remittance advice in support thereof; keep also
9records showing the check, share draft, or other draft number, date, payee, and
10amount of each cash disbursement and classify said disbursements by state funds;
11keep a record of the date, payee, and amount of each disbursement made by a money
12transfer technique other than a check or draft and classify the disbursement by state
13fund; and verify at the end of each week the amounts shown by the
secretary's 14treasurer's records to represent total cash balance and cash balances of individual
15state funds by comparing said amounts with corresponding balances appearing on
16records maintained by the department
of administration.
AB1039,18
17Section 18
. 16.401 (7) (intro.) and (a) to (c) of the statutes are renumbered
1814.58 (8) (intro.) and (a) to (c).
AB1039,19
19Section
19. 16.401 (8) of the statutes is renumbered 14.58 (9) and amended
20to read:
AB1039,9,1221
14.58
(9) Submit biennial report.
As part of the report submitted under s.
2215.04 (1) (d), On or before October 15 of each odd-numbered year, submit to the
23governor and the chief clerk of each house of the legislature, for distribution to the
24legislature under s. 13.172 (2), a report containing the same information required of
25departments and independent agencies under s. 15.04 (1) (d). The report shall also
1include a statement showing for each of the 2 preceding fiscal years the cash balance
2in each state fund at the beginning of the fiscal year, the aggregate amount of receipts
3credited, and the aggregate amount of disbursements charged to each said fund
4during the fiscal year and the resultant cash balance in each state fund at the end
5of the fiscal year. This statement shall further show as of the end of each said 2 fiscal
6years, at par, the aggregate value of securities held for each state fund and the
7aggregate value of securities held in trust or deposited for safekeeping, and shall
8show the manner in which the total cash balance was accounted for by listing the
9balances on deposit in each state account in a public depository, deducting from the
10total of such balances the aggregate amount of checks, share drafts, or other drafts
11outstanding and adding thereto the aggregate amount of cash and cash items in
12office.
AB1039,20
13Section
20. 16.401 (9) of the statutes is renumbered 14.58 (10) and amended
14to read:
AB1039,9,2115
14.58
(10) Report certain payments. Whenever the
secretary state treasurer 16or any state department shall remit to any county, city, town, or village any sum in
17payment of a state aid or other item, the remitter shall transmit a statement of the
18amount and purpose thereof to the clerk of such municipality. After the receipt
19thereof, the clerk of such municipality shall present such statement at the next
20regular meeting of the governing body and shall thereafter file and keep such
21statement for 6 years.
AB1039,21
22Section
21. 16.401 (10) of the statutes is renumbered 14.58 (12) and amended
23to read:
AB1039,9,2524
14.58
(12) Stamp checks and drafts. Cause to be plainly printed or stamped
25upon each check, share draft, and other draft issued by the
secretary state treasurer
1the period of time, as determined by the
secretary state treasurer but not to exceed
2one year, during which the check or other draft may be presented for payment. The
3secretary state treasurer shall cancel on his or her records any check or other draft
4that is not presented for payment within the prescribed time period and shall credit
5the amount thereof to the fund upon which it is drawn.
Notice of such cancellation
6and credit shall immediately be submitted by the state treasurer to the department
7of administration.
AB1039,22
8Section
22. 16.401 (11) of the statutes is renumbered 14.58 (13) and amended
9to read:
AB1039,10,2310
14.58
(13) Provide services in connection with securities held in trust. Upon
11request therefor from any company, corporation, society, order, or association that
12has securities on deposit with the
secretary
state treasurer, in trust, mail to its
13address not to exceed 60 days before the same become due, any or all interest
14coupons; return to it any or all bonds, notes, or other deposits as they become due and
15are replaced by other securities; cut all interest coupons, make any endorsement of
16interest or otherwise on any such securities; and collect therefor from the company,
17corporation, society, order, or association making the request, a 25-cent fee for a
18single coupon cut, or for each entry of interest endorsed on a note or return of a bond,
19note, or other security, and a 10-cent fee for each additional coupon cut, or entry of
20interest endorsed on a note, bond, or other security, and may withhold any and all
21coupons cut or refuse endorsement of interest on securities until such fee is paid.
22Such fees shall be paid into the state treasury as a part of the general fund, and an
23extra charge may be required for postage or registered mail.
AB1039,23
24Section
23. 16.401 (12) of the statutes is renumbered 14.58 (17) and amended
25to read:
AB1039,11,6
114.58
(17) Hold safekeeping receipts for federal securities. Whenever any
2federal securities are purchased under authority of any law and the
secretary state
3treasurer is custodian thereof the
secretary
state treasurer may accept and hold
4safekeeping receipts of a federal reserve bank for such securities. Each such receipt
5shall be identified on its face with the name of the fund to which the securities
6described in the receipt belong.
AB1039,24
7Section
24. 16.401 (13) of the statutes is renumbered 14.58 (18) and amended
8to read:
AB1039,11,169
14.58
(18) Sale of
Sell investments. Whenever the department
of
10administration draws a check, share draft, or other draft dated the next following
11business day upon a fund whose investment and collection is under the exclusive
12control of the investment board pursuant to s. 25.17 (1), and the receipts of the state
13treasurer are insufficient to permit a disbursement from said fund in the amount of
14such check, share draft, or other draft, the investment board shall sell investments
15owned by such fund for delivery in time to provide sufficient money to cover such
16check, share draft, or other draft on the date that it bears.
AB1039,25
17Section 25
. 16.401 (14) of the statutes is renumbered 14.58 (19).
AB1039,26
18Section 26
. 16.401 (15) of the statutes is renumbered 14.58 (22).
AB1039,27
19Section
27. 16.412 of the statutes is amended to read:
AB1039,11,24
2016.412 Agency payments. At the request of any agency, the secretary
, with
21the approval of the state treasurer, may authorize the processing of specified regular
22periodic payments through the use of money transfer techniques including, without
23limitation because of enumeration, direct deposit, electronic funds transfer, and
24automated clearinghouse procedures.
AB1039,28
25Section
28. 16.415 (1) of the statutes is amended to read:
AB1039,12,12
116.415
(1) Neither the secretary nor any other fiscal officer of this state may
2draw, sign, or issue, or authorize the drawing, signing, or issuing of any warrant on
3any the state treasurer or other disbursing officer of the state to pay any
4compensation to any person in the classified service of the state unless an estimate,
5payroll, or account for such compensation, containing the names of every person to
6be paid, bears the certificate of the appointing authority that each person named in
7the estimate, payroll, or account has been appointed, employed, or subject to any
8other personnel transaction in accordance with, and that the pay for the person has
9been established in accordance with, the law, compensation plan, or applicable
10collective bargaining agreement, and applicable rules of the administrator of the
11division of personnel management in the department and the director of the bureau
12of merit recruitment and selection in the department then in effect.
AB1039,29
13Section
29. 16.53 (5) of the statutes is amended to read:
AB1039,12,2214
16.53
(5) Warrants; what to specify. The secretary shall draw a warrant on
15the state
treasury treasurer payable to the claimant for the amount allowed by the
16secretary upon every claim audited under sub. (1), except as authorized in s. 16.52
17(7), 20.920, or 20.929, specifying from what fund to be paid, the particular law that
18authorizes the claim to be paid out of the state treasury, and at the secretary's
19discretion the post-office address of the payee.
No moneys may be paid out of the
20state treasury under this section The secretary may not credit the state treasurer for
21any sum of money paid out by the state treasurer otherwise than upon such
22warrants.
AB1039,30
23Section
30. 16.53 (10) (a) of the statutes is amended to read:
AB1039,13,1624
16.53
(10) (a) If an emergency arises which requires the department to draw
25vouchers for payments which will be in excess of available moneys in any state fund,
1the secretary,
in consultation with the state treasurer, and after notifying the joint
2committee on finance under par. (b), may prorate and establish priority schedules for
3all payments within each fund, including those payments for which a specific
4payment date is provided by statute, except as otherwise provided in this paragraph.
5The secretary shall draw all vouchers according to the preference provided in this
6paragraph. All direct or indirect payments of principal or interest on state bonds and
7notes issued under subch. I of ch. 18 and payments due, if any, under an agreement
8or ancillary arrangement entered into under s. 18.06 (8) (a) relating to any public
9debt contracted under subchs. I and IV of ch. 18 have first priority. All direct or
10indirect payments of principal or interest on state notes issued under subch. III of
11ch. 18 have 2nd priority. No payment having a 1st or 2nd priority may be prorated
12or reduced under this subsection. All state employee payrolls have 3rd priority. The
13secretary shall draw all remaining vouchers according to a priority determined by
14the secretary. The secretary shall maintain records of all claims prorated under this
15subsection
and shall provide written notice to the state treasurer when a potential
16cash flow emergency is anticipated.
AB1039,31
17Section
31. 16.53 (10) (b) of the statutes is amended to read:
AB1039,13,2518
16.53
(10) (b) Before exercising authority under par. (a) the secretary shall
,
19after consultation with the state treasurer, notify the joint committee on finance as
20to the need for and the procedures under which proration or priority schedules under
21par. (a) shall occur. If the joint committee on finance has not, within 2 working days
22after the notification, scheduled a meeting to review the secretary's proposal, the
23secretary may proceed with the proposed action. If, within 2 working days after the
24notification, the committee schedules a meeting, the secretary may not proceed with
25the proposed action until after the meeting is held.
AB1039,32
1Section
32. 16.64 of the statutes is renumbered 14.63, and 14.63 (2) (intro.)
2and (b), (3) (a), (c) and (d), (5) (b) (intro.), (6) (a) 5. and (b), (7) (a) (intro.), 4. and 5. and
3(b), (7m) (a) (intro.), (b) and (c), (9), (10) (a) and (b), (12) (title), (a) (intro.) and (b)
4(intro.) and (13), as renumbered, are amended to read:
AB1039,14,65
14.63
(2) Weighted average tuition; tuition unit cost. (intro.) Annually, the
6department state treasurer and the board jointly shall determine all of the following:
AB1039,14,137
(b) The price of a tuition unit, which shall be valid for a period determined
8jointly by the
department state treasurer and the board. The price shall be sufficient
9to ensure the ability of the
department state treasurer to meet
its his or her 10obligations under this section. To the extent possible, the price shall be set so that
11the value of the tuition unit in the anticipated academic year of its use will be equal
12to 1 percent of the weighted average tuition for that academic year plus the costs of
13administering the program under this section attributable to the unit.
AB1039,14,16
14(3) (a) An individual, trust, legal guardian, or entity described under
26 USC
15529 (e) (1) (C) may enter into a contract with the
department state treasurer for the
16sale of tuition units on behalf of a beneficiary.
AB1039,14,1717
(c) The
department state treasurer may charge a purchaser an enrollment fee.
AB1039,14,2018
(d) The
department state treasurer shall promulgate rules authorizing a
19person who has entered into a contract under this subsection to change the
20beneficiary named in the contract.
AB1039,14,23
21(5) (b) (intro.) Upon request by the beneficiary, the
department state treasurer 22shall pay to the institution or beneficiary, whichever is appropriate, in each semester
23of attendance the lesser of the following:
AB1039,14,25
24(6) (a) 5. Other circumstances determined by the
department state treasurer 25to be grounds for termination.
AB1039,15,4
1(b) The
department state treasurer may terminate a contract under sub. (3) if
2any of the tuition units purchased under the contract remain unused 10 years after
3the anticipated academic year of the beneficiary's initial enrollment in an institution
4of higher education, as specified in the contract.
AB1039,15,6
5(7) (a) (intro.) Except as provided in sub. (7m), the
department state treasurer 6shall do all of the following:
AB1039,15,97
4. If a contract is terminated under sub. (6) (a) 5., refund to the person who
8entered into the contract the amount under subd. 2. or under subd. 3., as determined
9by the
department state treasurer.
AB1039,15,1510
5. If the beneficiary is awarded a scholarship, tuition waiver or similar subsidy
11that cannot be converted into cash by the beneficiary, refund to the person who
12entered into the contract, upon the person's request, an amount equal to the value
13of the tuition units that are not needed because of the scholarship, waiver or similar
14subsidy and that would otherwise have been paid by the
department state treasurer 15on behalf of the beneficiary during the semester in which the beneficiary is enrolled.
AB1039,15,1716
(b) The
department state treasurer shall determine the method and schedule
17for the payment of refunds under this subsection.
AB1039,15,21
18(7m) (a) (intro.) The
department
state treasurer may adjust the value of a
19tuition unit based on the actual earnings attributable to the tuition unit less the costs
20of administering the program under this section that are attributable to the tuition
21unit if any of the following applies:
AB1039,16,222
(b) The
department state treasurer may not increase the value of a tuition unit
23under par. (a) to an amount that exceeds the value of a tuition unit that was
24purchased at a similar time, held for a similar period and used or refunded in the
1anticipated academic year of the beneficiary's attendance, as specified in the
2contract.
AB1039,16,73
(c) The
department state treasurer may promulgate rules imposing or
4increasing penalties for refunds under sub. (7) (a) if the
department state treasurer 5determines that such rules are necessary to maintain the status of the program
6under this section as a qualified state tuition program under section
529 of the
7Internal Revenue Code, as defined in s. 71.01 (6).
AB1039,16,12
8(9) Contract with actuary. The
department state treasurer shall contract
9with an actuary or actuarial firm to evaluate annually whether the assets in the
10tuition trust fund are sufficient to meet the obligations of the
department state
11treasurer under this section and to advise the
department state treasurer on setting
12the price of a tuition unit under sub. (2) (b).
AB1039,16,18
13(10) (a) Annually, the
department
state treasurer shall submit a report to the
14governor, and to the appropriate standing committees of the legislature under s.
1513.172 (3), on the program under this section. The report shall include any
16recommendations for changes to the program that the
department state treasurer 17determines are necessary to ensure the sufficiency of the tuition trust fund to meet
18the
department's state treasurer's obligations under this section.
AB1039,16,2419
(b) The
department state treasurer shall submit a quarterly report to the state
20investment board projecting the future cash flow needs of the tuition trust fund. The
21state investment board shall invest moneys held in the tuition trust fund in
22investments with maturities and liquidity that are appropriate for the needs of the
23fund as reported by the
department state treasurer in
its his or her quarterly reports.
24All income derived from such investments shall be credited to the fund.
AB1039,17,2
1(12) (title)
Additional duties and powers of the state treasurer. (a) (intro.)
2The
department state treasurer shall do all of the following:
AB1039,17,33
(b) (intro.) The
department state treasurer may do any of the following:
AB1039,17,7
4(13) Program termination. If the
department state treasurer determines that
5the program under this section is financially infeasible, the
department state
6treasurer shall discontinue entering into contracts under sub. (3) and discontinue
7selling tuition units under sub. (4).
AB1039,33
8Section
33. 16.641 of the statutes is renumbered 14.64, and 14.64 (2) (g), as
9renumbered, is amended to read:
AB1039,17,1210
14.64
(2) (g) Ensure that if the department
of administration changes vendors,
11the balances of college savings accounts are promptly transferred into investment
12instruments as similar to the original investment instruments as possible.
AB1039,34
13Section
34. 16.642 of the statutes is renumbered 14.65 and amended to read:
AB1039,17,21
1414.65 Repayment to the general fund. (1) The
secretary state treasurer 15shall transfer from the tuition trust fund, the college savings program trust fund, the
16college savings program bank deposit trust fund, or the college savings program
17credit union deposit trust fund to the general fund an amount equal to the amount
18expended from the appropriations under s. 20.505 (9) (a), 1995 stats., s. 20.585 (2)
19(a), 2001 stats., and s. 20.585 (2) (am), 2001 stats., when the
secretary state treasurer 20determines that funds in those trust funds are sufficient to make the transfer. The
21secretary state treasurer may make the transfer in installments.
AB1039,17,24
22(2) Annually, by June 1, the
secretary state treasurer shall submit a report to
23the joint committee on finance on the amount available for repayment under sub. (1),
24the amount repaid under sub. (1), and the outstanding balance under sub. (1).
AB1039,35
25Section
35. 18.60 (3) of the statutes is amended to read:
AB1039,19,5
118.60
(3) The principal proceeds from the sale of any refunding obligations
2shall be applied either to the immediate payment and retirement of the obligations
3or notes being refinanced or, if the obligations or notes have not matured and are not
4presently redeemable, to the creation of a trust for and shall be pledged to the
5payment of the obligations or notes being refinanced. If a trust is created, a separate
6deposit shall be made for each issue of obligations or notes being refinanced. Each
7deposit shall be with the
secretary of administration state treasurer or a bank or
8trust company that is then a member of the federal deposit insurance corporation.
9If the total amount of any deposit, including money other than sale proceeds but
10legally available for such purpose, is less than the principal amount of the obligations
11or notes being refinanced and for the payment of which the deposit has been created
12and pledged, together with applicable redemption premiums and interest accrued
13and to accrue to maturity or to the date of redemption, then the application of the sale
14proceeds shall be legally sufficient only if the money deposited is invested in
15securities issued by the United States or one of its agencies, or securities fully
16guaranteed by the United States, and only if the principal amount of the securities
17at maturity and the income therefrom to maturity will be sufficient and available,
18without the need for any further investment or reinvestment, to pay at maturity or
19upon redemption the principal amount of the obligations or notes being refinanced
20together with applicable redemption premiums and interest accrued and to accrue
21to maturity or to the date of redemption. The income from the principal proceeds of
22the securities shall be applied solely to the payment of the principal of and interest
23and redemption premiums on the obligations or notes being refinanced, but
24provision may be made for the pledging and disposition of any surplus. Nothing in
25this subsection shall be construed as a limitation on the duration of any deposit in
1trust for the retirement of obligations or notes being refinanced, but which have not
2matured and which are not presently redeemable. Nothing in this subsection shall
3be construed to prohibit reinvestment of the income of a trust if the reinvestments
4will mature at such times that sufficient cash will be available to pay interest,
5applicable premiums, and principal on the obligations or notes being refinanced.
AB1039,36
6Section
36. 19.43 (7) of the statutes is amended to read:
AB1039,19,197
19.43
(7) If an official required to file fails to make a timely filing, the
8commission shall promptly provide notice of the delinquency to the
secretary of
9administration state treasurer, and to the chief executive of the department of which
10the official's office or position is a part, or, in the case of a district attorney, to the chief
11executive of that department and to the county clerk of each county served by the
12district attorney or in the case of a municipal judge to the clerk of the municipality
13of which the official's office is a part, or in the case of a justice, court of appeals judge,
14or circuit judge, to the director of state courts. Upon such notification both the
15secretary of administration state treasurer and the department, municipality, or
16director shall withhold all payments for compensation, reimbursement of expenses,
17and other obligations to the official until the commission notifies the officers to whom
18notice of the delinquency was provided that the official has complied with this
19section.
AB1039,37
20Section 37
. 20.005 (3) (schedule) of the statutes: at the appropriate place,
21insert the following amounts for the purposes indicated:
-
See PDF for table ![PDF](https://docs.legis.wisconsin.gov/assets/image/file_acrobat.gif)
AB1039,38
1Section
38. 20.437 (2) (qm) of the statutes is amended to read:
AB1039,20,72
20.437
(2) (qm)
Child support state operations and reimbursement for claims
3and expenses; unclaimed payments. From the support collections trust fund, a sum
4sufficient equal to the amounts credited under s. 20.912 (1) to the support collections
5trust fund and the amounts not distributable under par. (r) for administering the
6program under s. 49.22 and all other purposes specified in s. 49.22 and for
7reimbursing the
secretary of revenue state treasurer under s. 177.265.
AB1039,39
8Section
39. 20.505 (1) (gc) of the statutes is renumbered 20.585 (1) (g).
AB1039,40
9Section
40. 20.505 (1) (kj) of the statutes is amended to read:
AB1039,20,1710
20.505
(1) (kj)
Financial services. The amounts in the schedule to provide
11accounting, auditing, payroll, and other financial services to state agencies
, to
12provide banking service cost analysis and cash management assistance for state
13agencies and state funds under s. 25.19 (3), and to transfer the amounts appropriated
14under s. 20.585 (1) (kb) to the appropriation account under s. 20.585 (1) (kb). All
15moneys received from the provision of accounting, auditing, payroll, and other
16financial services to state agencies
and from assessments paid under s. 25.14 (3) 17shall be credited to this appropriation.
AB1039,41
18Section
41. 20.505 (1) (tb) of the statutes is renumbered 20.585 (2) (q) and
19amended to read:
AB1039,21,220
20.585
(2) (q)
Payment of qualified higher education expenses and refunds;
21college tuition and expenses program. From the tuition trust fund, a sum sufficient
1for the payment of qualified higher education expenses and refunds under s.
16.64 214.63 (5) and (7).
AB1039,42
3Section
42. 20.505 (1) (td) of the statutes is renumbered 20.585 (2) (s) and
4amended to read:
AB1039,21,85
20.585
(2) (s)
Administrative expenses; college tuition and expenses program. 6From the tuition trust fund, the amounts in the schedule for the administrative
7expenses of the college tuition and expenses program under s.
16.64 14.63, including
8the expense of promoting the program.
AB1039,43
9Section
43. 20.505 (1) (tf) of the statutes is renumbered 20.585 (2) (t) and
10amended to read:
AB1039,21,1411
20.585
(2) (t)
Payment of qualified higher education expenses and refunds;
12college savings program trust fund. From the college savings program trust fund, a
13sum sufficient for the payment of qualified higher education expenses and refunds
14under s.
16.641 14.64 (2) and (3).