The bill amends and reenacts section 18-30-3 of the Code of West Virginia, 1931, to update definitions related to the West Virginia College Prepaid Tuition and Savings Program Act. The primary focus of the amendments is to align state definitions with recent changes in federal law regarding "qualified higher education expenses" as outlined in 26 U.S.C. 529. This includes clarifying terms such as "qualified education expenses," "savings plan," and "savings plan account," ensuring that they reflect the current federal standards for 529 accounts.

Additionally, the bill specifies that "eligible educational institution" encompasses a broader range of educational entities, including primary, middle, and secondary schools that meet federal eligibility criteria. The changes aim to enhance the clarity and effectiveness of the state's college savings program, making it easier for account owners and beneficiaries to understand their rights and obligations under the law. The bill is set to take effect 90 days after its passage, on June 10, 2026.

Statutes affected:
Introduced Version: 18-30-3
Engrossed Version: 18-30-3
Enrolled Version: 18-30-3