The proposed bill SB1454 amends the membership structure of the AZ529 Plan Advisory Committee by allowing members to designate a representative to serve in their place. Additionally, it mandates that at least one of the public members on the committee must have financial planning experience. This change aims to enhance the committee's expertise and accessibility, particularly for economically disadvantaged and underrepresented student populations.

Under the current law, specific members are required to serve on the committee, but the new bill allows for their designees to fulfill these roles. The bill retains all current members until their terms expire, after which the State Treasurer will make all subsequent appointments. Overall, the bill seeks to improve the functionality and representation of the AZ529 Plan Advisory Committee while ensuring continuity in its operations.

Statutes affected:
Introduced Version: 41-179
Senate Engrossed Version: 41-179
Chaptered Version: 41-179