CHAPTER 179 SENATE Substitute for HOUSE BILL No. 2017 An  Act establishing the Kansas postsecondary education savings expense fund; amending K.S.A. 2000 Supp. 75-648 and repealing the existing section.
Be it enacted by the Legislature of the State of Kansas:

      Section  1. K.S.A. 2000 Supp. 75-648 is hereby amended to read as
follows: 75-648. (a) (1) The Kansas postsecondary education savings pro-
gram trust fund is hereby established in the state treasury. Such savings
trust fund shall consist of moneys deposited by depositors in accordance
with this act, moneys acquired from governmental and private sources
and state general fund appropriations, if any. All interest derived from
the deposit and investment of moneys in such savings trust fund shall be
credited to the fund. At the end of any fiscal year, all unexpended and
unencumbered moneys in such savings trust fund shall remain therein
and not be credited or transferred to the state general fund or to any
other fund.

      (b) (2) Except as provided in subsection (b), the state treasurer shall
credit all moneys received in connection with the Kansas postsecondary
education savings program to the Kansas postsecondary education savings
program trust fund.

      (b)  (1) The Kansas postsecondary education savings expense fund is
hereby established in the state treasury. The fund shall consist of moneys
received from the Kansas postsecondary education savings program man-
ager.

      (c) (2) All expenses incurred by the treasurer in developing and ad-
ministering the postsecondary education savings program shall be payable
from the Kansas postsecondary education savings program trust expense
fund.

 Sec.  2. K.S.A. 2000 Supp. 75-648 is hereby repealed.

 Sec.  3. This act shall take effect and be in force from and after its
publication in the statute book.

Approved May 21, 2001.
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