reglab/statecodes huggingface dataset:
2023 West Virginia Code › Chapter 18. Education › Article 22D. Higher Education Student Assistance Loan Program › §18-22D-6. Acceptance or Rejection of Loan Package; Deposit Agreement

(a) The board may approve or reject a linked deposit loan package. Upon approval by the board of the linked deposit loan package, the board shall forward such approved application to the state Board of Investments and the state Board of Investments shall place certificates of deposit, within the limitations provided for in section four of this article, with the eligible lending institution at three percent below current market rates, as determined and calculated by the state Board of Investments.
(b) The eligible lending institution shall enter into a deposit agreement with the state Board of Investments, which shall include requirements necessary to carry out the purposes of this article. Such requirements shall reflect the market conditions prevailing in the eligible lending institution's lending area. The agreement may include a specification of the period of time in which the eligible lending institution is to lend funds after the placement of a linked deposit and shall include provisions for the certificates of deposit to be placed for up to two-year maturities that may be renewed for periods up to two years until such time as the loan has been completely repaid, or ten and one-half years after the eligible student's cessation of enrollment in the approved institution of higher education to which the loan proceeds were paid, whichever is sooner. Interest shall be paid at the times determined by the state Board of Investments.
2023 West Virginia Code › Chapter 18. Education › Article 22D. Higher Education Student Assistance Loan Program › §18-22D-7. Rate of Loan; Repayment

(a) Upon placement of a linked deposit with an eligible lending institution, such institution is required to lend such funds to each approved eligible student listed in the linked deposit loan package required in subsection (c), section five of this article, and in accordance with the deposit agreement required by subsection (b), section six of this article. The loan shall be at three percent below the present borrowing rate applicable to each eligible student.
(b) Upon request therefor and approval thereof, the loan agreement may require repayment of interest only, until such time as the eligible student commences repayment of the principal. Such repayment of the principal shall commence at or before such time as the eligible student is no longer enrolled in the approved institution of higher education for which the loan proceeds were paid or within five years of receipt of the loan, whichever is sooner: Provided, That an eligible student who enrolls in graduate or professional school subsequent to the enrollment for which a loan or loans were received pursuant to this section may defer such repayment time until completion or withdrawal from the graduate or professional school.
(c) Notwithstanding the time in which the eligible lending institution may provide for the repayment of the loan, the linked deposit shall be terminated at the maturity date next succeeding complete repayment or ten and one-half years after cessation of enrollment, whichever is sooner. The amount of interest on the loan shall revert to the market rate originally determined at such time as the linked deposit is withdrawn.
2023 West Virginia Code › Chapter 18. Education › Article 22D. Higher Education Student Assistance Loan Program › §18-22D-8. Certification and Monitoring of Compliance; Reports

(a) A certification of compliance with any applicable provisions of this article, in such form and manner as shall be prescribed by the state Board of Investments in cooperation with the board, shall be required of the eligible lending institution.
The senior administrator jointly employed by the West Virginia board of trustees and the board of directors of the state college system, in cooperation with the state Board of Investments, shall monitor compliance by the eligible student with the applicable provisions of this article and may take whatever action may be deemed necessary in furthering the intent of the student loan program.
(b) By January 1, April, July and October of each year, the Board of Investments shall report on the linked deposit program for the preceding calendar quarter to the Governor, the Joint Committee on Government and Finance, and the board. The reports shall set forth the linked deposits made by the state Board of Investments under the program during the quarter and shall include information regarding the nature, terms and amounts of the loans upon which the linked deposits were based and the eligible students to which the loans were made.
2023 West Virginia Code › Chapter 18. Education › Article 22D. Higher Education Student Assistance Loan Program › §18-22D-9. Liability

The state, the governing boards and the state Board of Investments are not liable to any eligible lending institution in any manner for payment of the principal or interest on the loan to an eligible student. Any delay in payment or default on the part of an eligible student does not in any manner affect the deposit agreement between the eligible lending institution and the state Board of Investments.
2023 West Virginia Code › Chapter 18. Education › Article 23. Additional Powers, Duties and Responsibilities of Governing Boards of State Institutions of Higher Education › §18-23-6. Bonds of Officers and Employees of State Institutions of Higher Education

The governing boards shall have authority to cause the head officer or any other officer of any state institution of higher education or any employee thereof under its control or management in whole or in part, or any of its own employees, to give bond, in such sum as the governing boards may require, conditioned for the faithful performance of their duties, and for accounting for and paying over all money and other property of the state which shall come into their hands or control by virtue of their office. The governing boards may provide that the surety in any such bond shall be a surety or bonding company authorized to do business in this state, and cause the premiums for bonds so given to be paid out of the current or contingent expense fund of the institution or governing board with which the person so bound is connected. All such bonds shall be approved by the Attorney General as to form, and by the governing boards as to sufficiency, and, when so approved, shall be filed with the treasurer of the governing boards and by him recorded and safely kept.
2023 West Virginia Code › Chapter 18. Education › Article 23. Additional Powers, Duties and Responsibilities of Governing Boards of State Institutions of Higher Education › §18-23-7. Disposition of State Moneys in Possession of Officers of State Institutions of Higher Education; Manner of Expending Appropriations; Certification of Deficiency in Appropriations

All moneys and funds belonging to the state which shall come into the possession or under the control of the head officer, or any other officer, of any state institution of higher education, or of any person connected therewith, under the control and management of the governing boards in whole or in part, or the fiscal or financial affairs of which are subject to the control and management of the governing boards, shall be paid to the treasurer of said boards monthly, on or before the tenth day of the month succeeding the month in which such moneys or funds were received, under such rules and regulations as the governing boards shall prescribe. They shall cause such moneys and funds to be paid into the State Treasury immediately in the manner provided in article two, chapter twelve of this code.
All moneys appropriated for the governing boards or for any state institution of higher education under their supervision and management may be expended on proper requisitions issued by the appropriate governing board. Whenever the appropriations by the Legislature for any of said institutions are insufficient to pay the expenses of conducting such institution, the deficiency shall be certified by the appropriate governing board to the Governor. Such certificate shall state the name of the institution and the items and amount in detail needed, and the Governor may direct payment of the same or any part thereof out of any appropriation available for that purpose.
2023 West Virginia Code › Chapter 18. Education › Article 23. Additional Powers, Duties and Responsibilities of Governing Boards of State Institutions of Higher Education › §18-23-8. Visitation and Inspection of State Institutions of Higher Education

The governing boards, or one or more of their members, shall visit each of the state institutions of higher education under their control and management in whole or in part as often as may be necessary, and may hold a regular meeting of the governing boards at any such institution. During any such visitation the governing boards or any member thereof shall thoroughly inspect all the departments thereof and investigate the condition and management of the same; and for the purpose of aiding any such investigation the governing boards or any member thereof shall have power to summon and compel the attendance of witnesses, to be examined under oath, which any member shall have the power to administer; and the governing boards or any member thereof shall have access to all books, papers and property necessary to any such investigation, and may order the production of any books, papers or property. Witnesses, other than employees of the state, shall be entitled to the same fees as in civil cases in the circuit court. In any investigation by the governing boards, or by any member thereof, they or he may cause the testimony to be taken in shorthand and transcribed and filed in the office of the governing board as soon after the same is taken as practicable. Any person refusing or failing to obey the order of the governing boards or any member thereof, issued under the provisions of this section, or to give or produce any evidence required, shall be reported by the governing boards or the member thereof conducting the investigation to the proper circuit court or the judge thereof, and such person so refusing or failing shall be dealt with by the court or judge as for contempt.
2023 West Virginia Code › Chapter 18. Education › Article 23. Additional Powers, Duties and Responsibilities of Governing Boards of State Institutions of Higher Education › §18-23-9. Books and Accounts

The governing boards shall cause to be kept at their office a proper and complete set of books and accounts with each state institution of higher education under their respective control, which shall clearly show every expenditure authorized and made thereat. The books shall exhibit an account of all appropriations made by the Legislature concerning any institution under their control, and of all other funds under the control of the governing boards. They shall, in conjunction with and subject to the approval of the chief inspector of public offices, prescribe the form of vouchers, records and methods of keeping accounts at and by each of the institutions under their control. Such vouchers, records and methods of accounts of the institutions shall be as nearly uniform as possible. The governing boards, or any member thereof, shall have the power to investigate the conditions and to examine and check the records of any of said institutions at any time. The governing boards shall also have the power to authorize any of their members or officers, its bookkeeper, accountant, or other employee, to proceed to any of the institutions under their control, and to examine and check its records, take inventory of its property, or that of any of its departments or for any other purpose the governing boards may deem necessary. Any person doing such work shall receive, in addition to regular compensation, his actual expenses incurred thereby. Upon the completion of any such special work the governing boards shall cause a full and complete written report of the same to be made to it as soon as practicable.
2023 West Virginia Code › Chapter 18. Education › Article 23. Additional Powers, Duties and Responsibilities of Governing Boards of State Institutions of Higher Education › §18-23-10. Records of State Institutions of Higher Education for Statistical and Other Purposes; Conference of Chief Officers

The governing boards shall prescribe the records to be kept for statistical and other purposes in the state institutions of higher education under their respective control. Each month they shall require a copy of such record to be transmitted to them for the preceding month, and they shall keep in their office in a substantially bound book a copy of every report that they may require from the chief officers of any institution under their control. The governing boards shall have authority to assemble the chief officers of the institutions under their respective control or any of them at their office, for the purpose of discussing any question which may be common to their welfare. The actual expenses made necessary in traveling to and from such meeting, and while in attendance thereat, shall be paid out of the funds of the several institutions involved in any such meetings.
2023 West Virginia Code › Chapter 18. Education › Article 23. Additional Powers, Duties and Responsibilities of Governing Boards of State Institutions of Higher Education › §18-23-11. Special Investigation of Any State Institution of Higher Education by Governor or Committee Appointed by Him

The Governor is hereby empowered to make a special investigation, either in person or by a committee appointed by him of the condition, management or affairs of any state institution of higher education, and for the purpose of aiding any such investigation the Governor or committee shall have the same powers as are conferred upon the governing boards by section eight of this article, in making similar investigations.
2023 West Virginia Code › Chapter 18. Education › Article 23. Additional Powers, Duties and Responsibilities of Governing Boards of State Institutions of Higher Education › §18-23-17. Agreements With Trustees for Bondholders

The governing boards may enter into an agreement or agreements with any trust company or with any bank having trust powers, either within or outside of the state, as trustee for the holders of the bonds issued hereunder, setting forth therein such duties of the state and of the governing boards in respect of the acquisition, construction, erection, improvement, maintenance, operation, repair and insurance of the dormitories, housing facilities, food service facilities and motor vehicle parking facilities, the conservation and application of all moneys, the insurance of moneys on hand or on deposit and the rights and remedies of the trustee and the holders of the bonds, as may be agreed on with the original purchasers of the bonds, and including therein provisions restricting the individual right of action of bondholders as is customary in trust agreements respecting bonds and debentures of corporations, protecting and enforcing the rights and remedies of the trustee and the bondholders and providing for approval by the original purchasers of the bonds, of the appointment of consulting engineers and of the security given by those who contract to make improvements and by any bank or trust company in which the proceeds of bonds or rents, fees or charges shall be deposited and for approval by the consulting engineers of all contracts for improvements. All expenses incurred in carrying out an agreement may be treated as a part of the cost of maintenance, operation and repair of the dormitories, housing facilities, food service facilities and motor vehicle parking facilities affected by the agreement. Any agreement entered into by the governing boards shall be binding in all respects on the governing boards from time to time in accordance with its terms and all the provisions thereof shall be enforceable by appropriate proceedings at law or in equity, or otherwise.
2023 West Virginia Code › Chapter 18. Education › Article 23. Additional Powers, Duties and Responsibilities of Governing Boards of State Institutions of Higher Education › §18-23-20. When Dormitories, Housing Facilities, Food Service Facilities or Motor Vehicle Parking Facilities Become Property of State

When the particular bonds for any dormitory or dormitories, housing facilities, food service facilities or motor vehicle parking facilities and the interest on the bonds shall have been paid or a sufficient amount has been provided for their payment and shall continue to be held for that purpose, the dormitories, housing facilities, food service facilities or motor vehicle parking facilities shall thereafter be exclusively the property of the State of West Virginia and thereafter the rents, fees and charges collected for the use or occupancy of, or service rendered and furnished by, the dormitories, housing facilities, food service facilities or motor vehicle parking facilities shall be paid into the state Board of Investments as provided by the provisions of section two, article two, chapter twelve of this code, as amended, and used and expended for the benefit of the institution where collected: Provided, That nothing in this section precludes any governing board from pledging the rents, fees and charges to pay the principal and interest on any bonds thereafter issued to construct new or to improve existing dormitories, housing facilities, food service facilities or motor vehicle parking facilities pursuant to section nineteen of this article. The rents, fees and charges shall be paid as may be provided in a trust agreement authorized pursuant to section seventeen of this article and in the absence of such trust agreement as provided in section nineteen of this article.
2023 West Virginia Code › Chapter 18. Education › Article 23. Additional Powers, Duties and Responsibilities of Governing Boards of State Institutions of Higher Education › §18-23-21. State Debt Not to Be Incurred for Dormitories, Housing Facilities, Food Service Facilities or Motor Vehicle Parking Facilities; Federal and Private Assistance; Provisions Separable

Nothing in these sections dealing with dormitories, housing facilities, food service facilities or motor vehicle parking facilities may be so construed or interpreted as to authorize or permit the incurring of state debt of any kind or nature as contemplated by the Constitution of this state in relation to the state debt. The dormitories, housing facilities, food service facilities or motor vehicle parking facilities herein are of the character described as self-liquidating projects under the laws of this state.
Any governing board authorized to issue bonds under the provisions of this article is authorized and empowered to accept loans or grants or temporary advances for the purpose of paying part or all of the cost of construction of the dormitories, housing facilities, food service facilities or motor vehicle parking facilities and the other purposes herein authorized, from the United States of America or a federal or public agency or department of the United States or any private agency, corporation or individual, which temporary advances may be repaid out of the proceeds of the bonds authorized to be issued under the provisions of this article and to enter into the necessary contracts and agreements to carry out the purposes hereof with the United States of America or a federal or public agency or department of the United States or with any private agency, corporation or individual. The provisions and parts of this section are separable and are not matters of mutual essential inducement and it is the intention to confer the whole or any part of the powers herein provided for and if any of the sections or provisions, or parts thereof, are for any reason illegal or invalid, it is the intention that the remaining sections and provisions or parts thereof shall remain in full force and effect.
2023 West Virginia Code › Chapter 18. Education › Article 25. Tax Deferred Investments for Teachers and Other Employees › §18-25-1. Authority to Make Tax Deferred Investments for Teachers and Other Employees

A county board of education, the Teachers Retirement Board, the West Virginia Board of Education and the Department of Education and the arts and their agencies may provide by written agreement between the department, any such board or agency and any teacher or other employee to reduce the cash salary payable to the teacher or other employee, and, in consideration thereof, to pay an amount equal to the amount of the reduction as premiums on an annuity contract or investments into a custodial account or other investment owned by the teacher or other employee. The annuity contract, custodial account or other investment shall be in such form and upon such terms as will qualify the payments thereon for tax deferment under the United States Internal Revenue Code. The amount of the reduction may not exceed the amount excludable from income under the United States Internal Revenue Code, and amendments and successor provisions thereto, and shall be considered a part of the teachers or employees salary for all purposes other than federal and state income tax.
The transaction of making the tax deferred investment for a teacher or other employee by a Board of Education, the Teachers Retirement Board, the West Virginia Board of Education and the Department of Education and the arts and their agencies imposes no liability nor responsibility whatsoever on the boards, department or members thereof except to show that the payments have been remitted for the purposes for which deducted.
2023 West Virginia Code › Chapter 18. Education › Article 28. Private, Parochial or Church Schools, or Schools of a Religious Order › §18-28-1. Policy

In conformity with the Constitutions of the United States and of West Virginia, it is the public policy of the state in matters of education that no human authority shall, in any case whatever, control or interfere with the rights of conscience or with religious liberty and that no person shall be enforced, restrained, molested or burdened, in body or goods, or otherwise suffer, on account of his or her religious opinions or belief, but all people shall be free to profess, and by argument, to maintain their opinions in matters of religion; and further be free to select their religious instructor, and to make for his or her support, such private contract as they shall please, and that religion, morality and knowledge being necessary to good government and the happiness of humankind, the means of education shall forever be encouraged.
2023 West Virginia Code › Chapter 18. Education › Article 28. Private, Parochial or Church Schools, or Schools of a Religious Order › §18-28-2. Attendance; Health and Safety Regulations

The following is applicable to private, parochial or church schools or schools of a religious order:
(a) Each school shall observe a minimum instructional term of one hundred eighty days with an average of five hours of instruction per day;
(b) Each school shall make and maintain annual attendance and disease immunization records for each pupil enrolled and regularly attending classes. The attendance records shall be made available to the parents or legal guardians;
(c) Upon the request of the county superintendent, a school (or a parents organization composed of the parents or guardians of children enrolled in the school) shall furnish to the county board a list of the names and addresses of all children enrolled in the school between the ages of seven and sixteen years;
(d) Attendance by a child at any school which complies with this article satisfies the requirements of compulsory school attendance;
(e) Each school is subject to reasonable fire, health and safety inspections by state, county and municipal authorities as required by law, and is required to comply with the West Virginia school bus safety regulations; and
(f) Each school shall establish, file and update a school specific crisis response plan which complies with the requirements established for it by the state board and the Division of Homeland Security and Emergency Management pursuant to section nine, article nine-f of this chapter.
2023 West Virginia Code › Chapter 18. Education › Article 28. Private, Parochial or Church Schools, or Schools of a Religious Order › §18-28-4. Voluntary Participation in State Programs

Any private, parochial or church school or school of a religious order or other nonpublic school complying with the provisions of this article may, on a voluntary basis, participate in any state operated or state sponsored program otherwise made available to such schools by law.
2023 West Virginia Code › Chapter 18. Education › Article 28. Private, Parochial or Church Schools, or Schools of a Religious Order › §18-28-5. New School Notice Requirements; Termination

(a) Any new school to which this article relates shall send to the State Superintendent of Schools of the State of West Virginia a notice of intent to operate, name and address of the school, and name of the school's chief administrator.
(b) Any school to which this article applies shall notify the State Superintendent of Schools of the State of West Virginia upon termination.
2023 West Virginia Code › Chapter 18. Education › Article 28. Private, Parochial or Church Schools, or Schools of a Religious Order › §18-28-6. Requirements Exclusive

No private, parochial or church school or school operated by any other religious group or body as part of its religious ministry or other nonpublic school which complies with the requirements of this article shall be subject to any other provision of law relating to education except requirements of law respecting fire, safety, sanitation and immunization.
2023 West Virginia Code › Chapter 18. Education › Article 28. Private, Parochial or Church Schools, or Schools of a Religious Order › §18-28-7. Waiver of Required Assessment for Certain Students Attending Parochial School

The state superintendent may waive the assessment requirement for parochial schools set forth in section three of this article if the state superintendent determines that a court of law has held that the assessment requirement would violate a provision of the state or federal Constitution.
2023 West Virginia Code › Chapter 18. Education › Article 30. West Virginia College Prepaid Tuition and Savings Program Act › §18-30-2. Legislative Findings and Purpose

The Legislature finds and determines that enhancing the accessibility and affordability of education for all citizens of West Virginia will promote a well-educated and financially secure population to the ultimate benefit of all citizens of West Virginia, and that assisting individuals and families in planning for future educational expenses by making the tax incentives in 26 U.S.C. 529 available to West Virginians is one of the proper governmental functions and purposes of the state.
2023 West Virginia Code › Chapter 18. Education › Article 30. West Virginia College Prepaid Tuition and Savings Program Act › §18-30-3. Definitions

For the purposes of this article, the following terms have the meanings ascribed to them, unless the context clearly indicates otherwise or as otherwise provided in 26 U.S.C. 529:
"Account" means a savings plan account established in accordance with this article.
"Account owner" means the individual, corporation, association, partnership, trust, or other legal entity who enters into a savings plan contract and invests money in a savings plan account.
"Beneficiary" means the individual designated as a beneficiary at the time an account is established, the individual designated as the beneficiary when beneficiaries are changed, the individual entitled to receive distributions from an account, and any individual designated by the account owner, his or her agent, or his or her estate in the event the beneficiary is unable or unwilling to receive distributions under the terms of the contract.
"Board" means the Board of Trustees of the West Virginia College and Jumpstart Savings Programs as provided in 18-30-4 of this code.
"Distribution" means any disbursement from an account in accordance with 26 U.S.C. 529.
"Eligible educational institution" means an institution of higher education or a private or religious primary, middle, or secondary school that qualifies under 26 U.S.C. 529 as an eligible educational institution.
"Outstanding obligations of the Prepaid Tuition Plan" means the outstanding contract obligations of the board to persons owning Prepaid Tuition Plan accounts. The term also includes any fees, charges, expenses, penalties, or any other obligation or liability of the Prepaid Tuition Trust Fund or plan.
"Prepaid Tuition Program" means the Prepaid Higher Education Program and Plan, which was previously established and authorized by this article as reflected in chapter 80, Acts of the Legislature, Regular Session, 1997, and which was closed in 2021.
"Program" means the West Virginia College Savings Program established pursuant to this article and as defined in 18-30-4(a) of this code.
"Qualified education expenses" means expenses treated as "qualified higher education expenses" under 26 U.S.C. 529.
"Savings plan" means the plan that allows account distributions for qualified higher educational expenses and tuition at private or religious primary, middle, and secondary schools.
"Savings plan account" means an account established by an account owner pursuant to this article, in order for the beneficiary to apply distributions toward qualified higher education expenses and tuition expenses at eligible educational institutions.
"Savings plan contract" means a contract entered into by the board or its agent, if any, and an account owner establishing a savings plan account.
"Treasurer" means the West Virginia State Treasurer.
"Tuition" means the quarter, semester, or term charges imposed by an eligible educational institution and all mandatory fees required as a condition of enrollment by all students for full-time attendance.
2023 West Virginia Code › Chapter 18. Education › Article 30. West Virginia College Prepaid Tuition and Savings Program Act › §18-30-3a. 2022 Legislative Findings; Statutory Construction

(a) The Legislature makes the following findings regarding the amendments to this article adopted during the 2022 Regular Session of the Legislature:
(1) Whereas the Prepaid Tuition Program and Plan, administered by the board from 1998 until 2021, was statutorily closed to new accounts in 2001;
(2) Whereas the board initiated a statutorily authorized buyout of all remaining accounts in 2021 and terminated the Prepaid Tuition Program, Plan, and Trust Fund;
(3) Whereas the Jumpstart Savings Act, adopted during the 2021 Regular Session of the Legislature, created a new savings and investment program to become operational on July 1, 2022;
(4) Whereas the Jumpstart Savings Program is structurally similar to the College Savings Program, both programs share the objective of assisting West Virginians to obtain the education and skills that they need for productive and successful livelihoods, and the Jumpstart Savings Act allows state tax rollovers from a SMART529 account into a Jumpstart Savings Account;
(5) Whereas authorizing a single board to administer both the College Savings Program and Jumpstart Savings Program, rather than requiring each program to have a separate board, will significantly reduce management and administrative costs to the state;
(6) Therefore, the Board of Trustees of the College Prepaid Tuition and Savings Program should be continued and re-designated as "the Board of Trustees of the West Virginia College and Jumpstart Savings Programs" and said board should be tasked with administering the College Savings Program, established by this article, and the Jumpstart Savings Program, established by 18-30A-1
et seq
. of this code.
(b) The Legislature further finds that, whenever possible, this article should be read in pari materia and construed in harmony with the Jumpstart Savings Act, located in 18-30A-1
et seq
. of this code.
(c) The Legislature further finds that interests in the College Savings Program Trust are intended:
(1) To qualify for relevant federal securities law exemptions for public instrumentalities of a State; and
(2) To be exempt from registration under chapter 32 of the West Virginia Code, the Uniform Securities Act.
2023 West Virginia Code › Chapter 18. Education › Article 30. West Virginia College Prepaid Tuition and Savings Program Act › §18-30-8. The College and Jumpstart Savings Administrative Account

(a) There is hereby continued a separate special revenue account within the State Treasury titled the "college prepaid tuition and savings program administrating account", which shall hereafter be known as the College and Jumpstart Savings Administrative Account. The board shall administer and make expenditures from the account for the purposes of implementing, operating, and maintaining the trust funds, the program created by this article, and the program created by 18-30A-1
et seq
. of this code.
(b) The administrative account shall receive all fees, charges, and penalties collected by the board. Expenditures from the fund are authorized from collections. Any balance, including accrued interest and other returns, remaining in the fund at the end of each fiscal year shall not revert to the General Revenue Fund but shall remain in the fund to be expended as authorized by this section.
2023 West Virginia Code › Chapter 18. Education › Article 30. West Virginia College Prepaid Tuition and Savings Program Act › §18-30-9. Income Tax Deduction for Purchasers

As provided in section twelve-a, article twenty-one, chapter eleven of this code, any payment made under a prepaid tuition contract or other college savings plan administered by the board, pursuant to the provisions of this article, is eligible for a tax deduction.
2023 West Virginia Code › Chapter 18. Education › Article 30. West Virginia College Prepaid Tuition and Savings Program Act › §18-30-10. Reports and Account; Annual Audit

(a) In addition to any other requirements of this article, the board shall:
(1) Provide annual statements on the savings plan accounts to the respective account owners; and
(2) Prepare, or have prepared, a quarterly report on the status of the program, including the trust funds and the administrative account, and provide a copy of the report to the Joint Committee on Government and Finance and the Legislative Oversight commission on education accountability.
(b) All accounts of the board, including the trust funds, are subject to an annual external audit by an accounting firm, selected by the board, of which all members or partners assigned to head the audit are members of the American institute of certified public accountants. The audit shall comply with the requirements of 5A-2-33 of this code.
2023 West Virginia Code › Chapter 18. Education › Article 30. West Virginia College Prepaid Tuition and Savings Program Act › §18-30-12. Confidentiality

Any information that would tend to disclose the identity of a beneficiary, account owner or donor is exempt from the provisions of chapter twenty-nine-b of this code. Nothing in this section prohibits disclosure or publication of information in a statistical or other form which does not identify the individuals involved or provide personal information. Account owners are permitted access to their own personal information.
2023 West Virginia Code › Chapter 18. Education › Article 30. West Virginia College Prepaid Tuition and Savings Program Act › §18-30-13. Remaining Obligations of the Prepaid Tuition Program and Escrow Fund

(a) The Prepaid Tuition Trust Escrow Fund, which was previously authorized by 18-30-6 of this code, is continued in the State Treasury to guarantee payment of outstanding obligations of the Prepaid Tuition Plan arising after the plans closure. The board is authorized to take any action necessary to satisfy obligations of the Prepaid Tuition Plan arising after the plans closure.
(b) The Prepaid Tuition Trust Escrow Fund shall consist of any moneys in the fund on the effective date of this section. Up to $1,000,000 may be maintained in the Prepaid Tuition Trust Escrow Fund for a period not to exceed 10 years following the closure of the Prepaid Tuition Fund for the purpose of satisfying any claims against the Prepaid Tuition Trust Plan arising after the plans closure:
Provided
, That upon the expiration of 10 years following the date of closure of the Prepaid Tuition Trust Fund or when the balance of the Prepaid Tuition Trust Escrow Fund is zero, whichever occurs first, the account shall be closed and any moneys remaining in the Prepaid Tuition Trust Escrow Fund upon said funds closure shall revert to the states General Revenue Fund.
(c) The board shall invest the Prepaid Tuition Trust Escrow Fund, in accordance with the provisions of this article, in fixed income securities, and all earnings of the fund shall accrue to the fund and be available for expenditure in accordance with this section.
2023 West Virginia Code › Chapter 18. Education › Article 30A. West Virginia Jumpstart Savings Act › §18-30A-2. Findings

(a) The Legislature recognizes the importance of cultivating an environment in West Virginia where our tradespersons and entrepreneurs can be successful in their careers and remain in their home state. The Legislature finds that a savings and investment program to assist our citizens who wish to embark on a new trade or establish a new business within this state, is an investment in the future of West Virginia and its hardworking citizens.
(b) The Legislature further finds that, whenever possible, this article should be read in pari materia and construed in harmony with the West Virginia College Savings Program Act, 18-30-1
et seq
. of this code.
(c) The Legislature further finds that interests in the Jumpstart Savings Program Trust are intended:
(1) To qualify for relevant federal securities law exemptions for public instrumentalities of a state; and
(2) To be exempt from registration under Chapter 32 of the West Virginia Code, titled the "Uniform Securities Act."
2023 West Virginia Code › Chapter 18. Education › Article 30A. West Virginia Jumpstart Savings Act › §18-30A-5. The Board of Trustees of the West Virginia College and Jumpstart Savings Programs

The West Virginia Jumpstart Savings Program shall be administered by the Board of Trustees of the West Virginia College and Jumpstart Savings Programs. The board is created in 18-30-4 of this code and is a public instrumentality of the State of West Virginia.
2023 West Virginia Code › Chapter 18. Education › Article 30A. West Virginia Jumpstart Savings Act › §18-30A-7. Powers and Duties of the Treasurer

(a) In order to implement and administer the program, the Treasurer shall:
(1) Provide support staff and office space for the board;
(2) Establish and monitor, at the direction of the board, the methods and processes by which the funds held in accounts are deposited and distributed;
(3) Charge and collect any necessary administrative fees, penalties, and service charges in connection with any agreement, contract, or transaction relating to the program;
(4) Develop marketing plans and promotional material to ensure that potential program beneficiaries will be aware of the program and the advantages the program offers; and
(5) Present the annual evaluations and reports required by 18-30A-13 of this code at any meeting or proceeding of the Legislature or the Office of the Governor upon request.
(b) In order to implement and administer the program, the Treasurer may:
(1) Collect all necessary information from program account holders and beneficiaries;
(2) Create forms necessary for implementation of the program;
(3) Propose legislative rules for legislative approval, in accordance with the provisions of 29A-3-1
et seq
. of this code, that are necessary to effectuate the provisions and purposes of this article; and
(4) Perform all other lawful actions necessary to effectuate the provisions of this article, subject to applicable state and federal law.
2023 West Virginia Code › Chapter 18. Education › Article 30A. West Virginia Jumpstart Savings Act › §18-30A-10. Opening a Jumpstart Savings Account; Deposits

(a) Beginning on July 1, 2022, a person may open a Jumpstart Savings Account.
(b) To open a Jumpstart Savings Account, the account owner must:
(1) Provide all information required by the Treasurer;
(2) Make a minimum opening deposit, if required by the board; and
(3) Name a single person as the designated beneficiary:
Provided
, That the designated beneficiary may be the account owner himself or herself, or another person:
Provided, however
, That the beneficiary may not be a business, corporation, or enterprise.
(c) The Treasurer will deposit $100 from the College and Jumpstart Savings Administrative Account into a newly opened Jumpstart Savings Account if the following criteria are met:
(1) The designated beneficiary is a resident of West Virginia;
(2) Any minimum deposit required by the board is made to the account within 30 days of the accounts opening; and
(3) The account is opened when the designated beneficiary is under 18 years of age; or
(4) The account is opened within the 180 days following the date of the designated beneficiarys enrollment in an apprenticeship, training, or educational program described in 18-30A-3(a)(12) of this code.
(d) Any person may make a contribution to a Jumpstart Savings Account after the account is opened, subject to applicable state and federal laws.
(e) The Treasurer shall prescribe all forms required to open and make deposits to a Jumpstart Savings Account and make the forms available in a prominent location on the Treasurers website.
(f) The board may establish minimum deposits or amounts for accounts to be considered active and may establish procedures to close inactive accounts.
2023 West Virginia Code › Chapter 18. Education › Article 30A. West Virginia Jumpstart Savings Act › §18-30A-11. Distributions

(a) A distribution from a Jumpstart Savings Account that was used to pay for qualified expenses is not subject to the increasing income tax modification provided in 11-21-12m(c) of this code.
(b) A change in the designated beneficiary of a Jumpstart Savings Account is not a distribution for the purposes of this article or 11-21-1
et seq
. of this code if the new beneficiary is a family member of the prior beneficiary.
(c) Pursuant to the rule-making authority provided in this article, the board shall promulgate rules specifying the expenditures that constitute qualified expenses, according to 18-30A-3(a)(11)(D) of this code.
2023 West Virginia Code › Chapter 18. Education › Article 30A. West Virginia Jumpstart Savings Act › §18-30A-12. State Tax Benefits Related to a Jumpstart Savings Account

(a) As provided in 11-21-12m, 11-21-25, and 11-24-10a of this code, contributions, distributions, and employer matching contributions are eligible for specified decreasing modifications in determining taxable income, or specified tax credits against tax imposed by 11-21-1
et seq
. and 11-24-1
et seq
. of this code.
(b) Nothing in this article nor in 11-21-12m, 11-21-25, or 11-24-10a of this code shall be construed to decrease or otherwise impact any persons federal tax obligations or to authorize any act which violates federal law.
2023 West Virginia Code › Chapter 18. Education › Article 30A. West Virginia Jumpstart Savings Act › §18-30A-13. Reports and Account; Annual Audit

(a) In addition to any other requirements of this article, the board shall:
(1) Prepare and provide an annual summary of information on the financial condition of the Jumpstart Savings Trust Fund and statements on the savings program accounts to the respective account owners; and
(2) Prepare, or have prepared, a quarterly report on the status of the program, including the Jumpstart Savings Trust Fund and the College and Jumpstart Savings Administrative Account, and provide a copy of the report to the Joint Committee on Government and Finance:
Provided
, That the report submitted pursuant to 18-30-10 of this code fulfills this subdivisions requirement concerning the College and Jumpstart Savings Administrative Account.
(b) All accounts administered under the program, including the Jumpstart Savings Trust Fund, are subject to an annual external audit by an accounting firm, selected by the board, of which all members or partners assigned to head the audit are members of the American Institute of Certified Public Accountants. The audit shall comply with the requirements and standards in 5A-2-33 of this code.
2023 West Virginia Code › Chapter 18. Education › Article 30A. West Virginia Jumpstart Savings Act › §18-30A-14. Records; Confidentiality

(a) Notwithstanding any other provision of this code, the board and an apprenticeship provider, training or educational institution, or employer, are authorized to exchange information regarding participants in the program to carry out the purposes of this article:
Provided
, That the tax information confidentiality provisions of 11-10-5d of this code shall apply to tax returns and tax return information.
(b) Records containing personally identifying information regarding Jumpstart Savings Account holders and beneficiaries is exempt from disclosure under 29B-1-1
et seq
. of this code.
2023 West Virginia Code › Chapter 18. Education › Article 30A. West Virginia Jumpstart Savings Act › §18-30A-15. Limitation on Liability

Nothing in this article creates any obligation of the board, the Treasurer, the state, or any agency or instrumentality of the state to guarantee for the benefit of any account holder or designated beneficiary with respect to the:
(1) Return of principal;
(2) Rate of interest or other return on any account; or
(3) Payment of interest or other return on any account.
2023 West Virginia Code › Chapter 18. Education › Article 30A. West Virginia Jumpstart Savings Act › §18-30A-16. Legislative Rules Required

Prior to the commencement of the program, the board shall promulgate legislative, procedural, or emergency rules, or any combination thereof, in accordance with the provisions of 29A-3-1
et seq
. of this code, that include at a minimum, the following:
(1) Requirements for any contract to be entered between the board and an account holder upon opening a Jumpstart Savings Account to ensure compliance with the requirements of this article and applicable state and federal laws;
(2) Examples of qualified expenses, as described in 18-30A-11 of this code; and
(3) Procedures for opening Jumpstart Savings Accounts, making contributions thereto, requesting distributions therefrom, and instructions for accessing any necessary forms.