The proposed bill aims to establish the Mountaineer Scholars Grant Program in West Virginia, which will provide a one-time grant of $100 to each child born in the state after December 31, 2024. This grant is intended to promote access to postsecondary educational opportunities by allowing eligible children to establish a qualified higher education savings program account. The bill outlines the definitions of key terms, such as "eligible child," "eligible educational institution," and "qualified higher education expenses," and mandates the Department of Human Services to transmit necessary information to the State Treasurer to administer the program effectively.

Additionally, the bill establishes the Mountaineer Scholars Grant Program Account within the Savings Plan Trust Fund Account, which will be used exclusively for providing grants to eligible children for their qualified higher education expenses. The Treasurer is responsible for ensuring the security and confidentiality of the information collected, notifying parents or guardians about the program, and providing an option to opt-out. The bill also allows for contributions from individuals or entities to the savings program account and ensures that the account balances are accessible to parents or guardians through a secured online platform.

Statutes affected:
Introduced Version: 18-30B-1