SENATE RESOLUTION No. 1721
A RESOLUTION recognizing 25 years of 529 Education Savings Plans to assist with educating and training
our future workforce, and the importance of providing financial empowerment tools to families across
Kansas so they may better afford the rising costs of higher education
and reduce reliance on student loans.
WHEREAS, Over the past 40 years, the cost of higher education has been consistently increasing
at two to three times the rate of inflation each year; and
WHEREAS, Nearly 60% of all federal financial aid is in the form of loans, significantly increasing
the number of college graduates faced with the burden of paying enormous student loan debt upon
entering the workforce; and
WHEREAS, Concerned by the mounting financial strain placed on young professionals, states
began to develop innovative programs designed to help families and students save for their college
education; and
WHEREAS, In 1996, the United States Congress, with bipartisan support, developed Section 529
in the Internal Revenue Code and the resulting federal tax benefits, including tax deferred treatment of
the earnings when used for higher education; and
WHEREAS, Section 529 of the Internal Revenue Code and the subsequent federal tax benefits led
to the development of college savings plans nationwide; and
WHEREAS, The Setting Every Community Up for Retirement Enhancement (SECURE) Act,
signed into law on December 20, 2019, expanded qualified higher education expenses to include
repayment of qualified education loans and allowed funds to cover registered apprenticeships; and
WHEREAS, 529 Education Savings Plans allow any U.S. citizen or resident to open an account or
be a beneficiary of an account, and there are no age or income limitations; and
WHEREAS, It is the responsibility of the Kansas State Treasurer to administer the Kansas
program, known as Learning Quest 529 Savings Plans; and
WHEREAS, The work of the Office of the Kansas State Treasurer to promote saving for college is
providing leadership and innovation to improve educational and economic opportunities for all Kansans;
and
WHEREAS, Learning Quest 529 Savings Plans allow Kansans to plan for future education
expenses for oneself or one's child or grandchild; and
WHEREAS, To celebrate the longevity and benefits of this program, May 29, 2021, is nationally
recognized as National 529 College Savings Plan Day: Now, therefore,

Be it resolved by the Senate of the State of Kansas: That we recognize 25 years of 529 Education
Savings Plans to assist with educating and training our future workforce, and the importance of providing
financial empowerment tools to families across Kansas so they may better afford the rising costs of higher
education and reduce reliance on student loans; and

Be it further resolved: That the Secretary of the Senate shall send an enrolled copy of this
resolution to Senator Sykes.

Senate Resolution No. 1721 was sponsored by Senator Dinah Sykes.

I hereby certify that the above RESOLUTION originated in the SENATE, and was adopted by that body
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President of the Senate.
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Secretary of the Senate.