HB116 allows an individual experiencing “intergenerational poverty” to receive a state match of deposits into certain 529 savings accounts.
The House passed HB116 on February 13, 2023, by a vote of 66 to 0. We have assigned minuses to the yeas because the funding of college tuition expenses or “tax-advantaged” education savings plans is not the role of government—rather, it is the responsibility of the students or private account holders themselves. The state has absolutely no business identifying persons of “intergenerational poverty” based on their family’s income history, and ought not to discriminatorily provide one group of individuals, who have little or no tax liability, with government funds at the expense of other, hard-working residents. In reality, this bill is counterproductive, and will only cause more debt, poverty, and government dependency.