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Minutes for SB304 - Committee on Education
Short Title
Establishing the born to invest act and requiring the office of vital statistics to provide data to the office of the state treasurer for the distribution of informational materials regarding certain government-administered savings accounts.
Minutes Content for Tue, Feb 3, 2026
Chairman Erickson opened the hearing on SB304. Tamera Lawrence, Assistant Revisor, Office of the Revisor of Statutes, gave a brief overview of the bill and stood for questions. (Attachment 1)
Proponents:
Kansas State Treasurer Steven Johnson gave an overview of the savings accounts families can utilize to save for the education of their children with tax advantages. The most commonly used funds are the 529 Education Savings Account and the 529A (ABLE) Account which allows individuals with disabilities and their families to save for qualified expenses without jeopardizing eligibility for critical public benefits. The Treasurer would like to expand their financial empowerment efforts by educating Kansas families about a new federal savings opportunity called 530A (Trump) accounts. This account provides a new federally supported savings vehicle for eligible children, including $1,000 seed funding for children born between January 1, 2025, and December 31, 2028. (Attachment 2)
Nathan Kessler, Principal Economist, Kansas Action for Children, stated that early investments can make a world of difference over a child's lifetime, providing them with opportunities they otherwise might not have. The children behind these accounts are in an enviable position compared to the ones without these incredible wealth-building vehicles. Examples of investing from birth were compared to those that were started when the child was older. The results showed a clear value in educating parents on early investment as soon and as efficiently as possible. The flexibility in how the funds can be used adds to their value. (Attachment 3)
Sara Hart Weir, Executive Director, Kansas Council on Developmental Disabilities (KCDD) and Whit Downing, Vice President of Policy, KCDD, spoke in strong support of this bill which is simple, smart, proactive and no cost to Kansas ensures Kansas families receive timely information about financial tools available from the very beginning of a child's life.
Ms. Downing testified that she is autistic and if her family had received information about KS ABLE accounts at the time of her birth, it would have changed how they navigated disability systems from the beginning. Would have meant that a disability does not mean a lifetime of financial poverty. It would have shown her family that planning, saving, and dreaming were not off-limits simply because she is autistic. This bill shifts the message we send to families of children with disabilities by saying you are allowed to plan, save and imagine a future that is full, independent, and expansive. (Attachment 4)
No Opponent or Neural testimony was submitted.
Discussion ensued.
Chairman Erickson closed the hearing on SB304.
