HB 1027: State 529 Contributions

House Bill 1027, titled the "Brighter Start Act of 2025", from Representative Andrew Collins mandates a one-time contribution to state-supported savings accounts for educational purposes. Below is a summary of the key provisions:

  1. Contribution Requirement:

    • The Arkansas Treasurer of State is required to transfer $100 from the General Revenue Fund Account to:
      • All existing Arkansas Brighter Future Fund Plan accounts designated for a beneficiary.
      • Any new accounts opened in the future under the same program.
  2. Administration:

    • The Treasurer of State will oversee the distribution of these funds.
    • Eligibility verification is required to ensure that funds are properly disbursed to qualified accounts.
  3. Funding Source:

    • Contributions will come from the General Revenue Fund of the State Apportionment Fund.