This bill aims to amend and reenact section 18-30-3 of the Code of West Virginia to update definitions related to the West Virginia College Prepaid Tuition and Savings Program Act, specifically in light of recent changes to federal law regarding qualified higher education expenses under 26 U.S.C. 529. Key updates include the definition of "eligible educational institution," which now encompasses public, private, or religious primary, middle, or secondary schools, and the term "qualified education expenses," which aligns with the federal definition of "qualified higher education expenses."

Additionally, the bill modifies the definition of "savings plan" to allow account distributions for qualified higher educational expenses and tuition at eligible educational institutions, replacing the previous language that specified private or religious primary, middle, and secondary schools. These changes are intended to ensure that West Virginia's definitions are consistent with federal law, thereby enhancing the clarity and effectiveness of the state's college savings programs.

Statutes affected:
Introduced Version: 18-30-3