ARTICLE 19.5. California Kids Investment and Development Savings Program

Article 19.5 added by Stats. 2019, Ch. 53, Sec. 16.

§§ 69996–69996.9 · 10 sections

• § 69996 This article shall be known, and may be cited, as the California Kids Investment and Development Savings Program or KIDS Program.
• § 69996.1 The California Kids Investment and Development Savings Program is hereby established. The board shall administer the program for the purposes of expanding…
• § 69996.2 For purposes of this article, unless the context requires otherwise, the following definitions apply: (a) “Account” means a Scholarshare 529 account…
• § 69996.3 (a) (1) Each child born on or after a date determined by the board pursuant to paragraph (2) who is a California resident at the time of birth is eligible for…
• § 69996.4 The board shall have the power and authority to do all of the following: (a) Sue and be sued. (b) Make and enter into contracts necessary for the…
• § 69996.5 The board may consider marketing the program to California residents. The board may include in its marketing efforts information designed to educate California…
• § 69996.6 (a) The California Kids Investment and Development Savings Program Fund is hereby established in the State Treasury. Notwithstanding Section 13340 of the…
• § 69996.7 (a) Funds appropriated pursuant to Schedule 1 of Item 0954-162-8506 of Section 2.00 of the Budget Act of 2021 shall be used to support program enhanced…
• § 69996.8 (a) The board may establish rules and regulations to ensure that money in a KIDS Account established pursuant to this article is disbursed directly to the…
• § 69996.9 (a) (1) For the 2021–22 fiscal year, through the program, all of the following shall occur: (A) Each pupil enrolled in grades 1 to 12, inclusive, on the State…