reglab/statecodes huggingface dataset:
Louisiana Administrative Code › Title 28 - EDUCATION › Part VI - Student Financial Assistance-Higher Education Savings › Chapter 3 - Education Savings Account › Section VI-305 - Deposits to Education Savings Accounts

Current through Register Vol. 50, No. 6, June 20, 2024
A. Application Fee and Initial Deposit Amount
1. No application fee will be charged to
				participants applying for a START Program account directly to the
				LATTA.
2. Financial and investment
				institutions may be authorized by the LATTA to offer assistance in establishing
				a START Program account. (See
fees
in §301.
				D.6)
3. An initial deposit is not
				required to open an ESA; however, a deposit of at least $10 must be made within
				180 days from the date on the letter of notification of approval of the
				account.
4. A lump sum deposit may
				not exceed the maximum allowable account balance (see §107).
Louisiana Administrative Code › Title 28 - EDUCATION › Part VI - Student Financial Assistance-Higher Education Savings › Chapter 3 - Education Savings Account › Section VI-307 - Allocation of Earnings Enhancements (EEs)

Current through Register Vol. 50, No. 6, June 20, 2024
A. EEs are state-appropriated funds allocated
				to an ESA on behalf of the beneficiary named in the account.
1.
a. The
				EEs for account owners who are classified under §303. A.1 and 3 are
				calculated based upon the account owner's annual federal adjusted gross income
				for the year immediately preceding the year for which the beneficiary of the
				account is being considered for EEs and the account owner's total annual
				deposits of principal.
b. The EEs
				for account owners who are classified under §303. A.6 are calculated
				based:
i. upon the beneficiary's family's
				annual federal adjusted gross income for the year immediately preceding the
				year for which the beneficiary of the account is being considered for EEs and
				the account owner's total annual deposits of principal; or
ii. if the beneficiary is a ward of the
				court, using the highest EE available and the account owner's total annual
				deposits of principal.
Louisiana Administrative Code › Title 28 - EDUCATION › Part VI - Student Financial Assistance-Higher Education Savings › Chapter 3 - Education Savings Account › Section VI-309 - Disbursement of Account Funds for Payment of Qualified Higher Education Expenses of a Beneficiary

Current through Register Vol. 50, No. 6, June 20, 2024
A. Request
				for Disbursement
1. For each term the account
				owner intends to fund the beneficiary's qualified higher education expenses,
				the account owner shall submit a request for disbursement.
2. The request for disbursement must include:
a. the START account number;
b. the account owner's name, address, and
				signature (may be electronic);
c.
				the beneficiary's name and address;
d. the amount to be disbursed and to
				whom;
e. the name and address of
				the eligible educational institution.
3. In the event funds are invested in more
				than one investment option, the disbursement shall be made proportionally from
				each investment option in the account.
4. If there is more than one account with the
				same beneficiary, each account owner requesting a disbursement must complete a
				request for disbursement and the disbursements shall be made from each account,
				in turn, in the order the disbursement requests were received.
5. Disbursements from all accounts with the
				same beneficiary shall not exceed the qualified higher education expenses of
				the beneficiary for the school attended.
6. Disbursements may be made to the eligible
				educational institution, account owner, and/or beneficiary. If all of the
				disbursement is made to the account owner and/or the beneficiary and LOSFA
				determines that the beneficiary is not enrolled in an eligible educational
				institution during the semester or term for which the disbursement was
				intended, LOSFA shall notify the account owner that the disbursement will
				constitute a refund for state and federal income tax purposes unless returned
				to the START account. If the disbursement is not returned to the account within
				60 days of the original notice, LOSFA shall recover the amount of the EEs and
				interest thereon included in the disbursement from any principal and interest
				remaining in the account, and, in the authoritys sole discretion, may refund
				any balance remaining thereafter and close the account.
7. Disbursements from investment options with
				variable earnings shall be assigned a trade date of one business day after the
				business day of receipt of the transfer request.
Louisiana Administrative Code › Title 28 - EDUCATION › Part VI - Student Financial Assistance-Higher Education Savings › Chapter 3 - Education Savings Account › Section VI-311 - Termination, Refund, and Rollovers of an Education Savings Account

Current through Register Vol. 50, No. 6, June 20, 2024
A. Account
				Termination
1. The account owner who is a
				natural person, other than a natural person classified as an account owner
				under §303.
				A 6, may terminate an account at any
				time.
2. The LATTA may terminate an
				account in accordance with this Subsection,
				§309.
				A.6 and §311 E
3. The LATTA may terminate an account if no
				deposit of at least $10 has been made within 180 days from the date on the
				letter of notification of approval of the account.
4. The LATTA may terminate an account if the
				beneficiary dies and a new beneficiary is not named within 60 days of the
				death.
5. The LATTA may terminate
				an account if the beneficiary becomes disabled and a new beneficiary is not
				named by the time the beneficiary who has become disabled reaches age
				25.
6. The account owner who is a
				legal entity or is classified under
				§303.
				A 6, may not terminate an account; however,
				the account owner who is a legal entity or is classified under
				§303.
				A.6 may designate a substitute beneficiary in
				accordance with
				§313.
				A.5 b
Louisiana Administrative Code › Title 28 - EDUCATION › Part VI - Student Financial Assistance-Higher Education Savings › Chapter 3 - Education Savings Account › Section VI-313 - Substitution, Assignment, and Transfer

Current through Register Vol. 50, No. 6, June 20, 2024
A. Substitute Beneficiary. The beneficiary of
				an ESA may be changed to a substitute beneficiary provided the account owner
				completes a beneficiary substitution form and the following requirements are
				met:
1. the substitute beneficiary is a
				member of the family as defined under §107;
2. the substitute beneficiary meets the
				citizen/resident alien requirements of §301 F, and, if the account owner
				is a nonresident of the state of Louisiana, the substitute beneficiary meets
				the applicable residency requirements (see §301 G);
3. if the substitute beneficiary is not a
				member of the family of the previous beneficiary:
a. and the account owner is a natural person
				classified under §303. A 1-5, the account must be refunded to the account
				owner and a new account must be opened;
b. and the account owner is a legal entity
				classified under §303. A.4 or 5, a new account shall be opened in the name
				of the new beneficiary; and
i. these transfers
				may be treated as refunds under federal and state tax laws in which case the
				account owner will be subject to any associated tax consequences; and
ii. the EEs and interest thereon for an
				account whose owner is classified under §303. A.4 will not be transferred
				to the new beneficiary; however, the new account will be eligible for EEs for
				the year the new account is opened;
c. and the account owner is classified under
				§303. A 6, a new account shall be opened in the name of the new
				beneficiary only if the beneficiary meets all the requirements of §303.
				A 6; and
i. these transfers may be treated as
				refunds under federal and state tax laws in which case the account owner will
				be subject to any associated tax consequences; and
ii. the EEs and interest thereon will not be
				transferred to the new beneficiary; however, the new account will be eligible
				for EEs for the year the new account is opened;
iii. the provisions of §301. A.2 shall
				apply to account owners classified in accordance with §305. A.5
Louisiana Administrative Code › Title 28 - EDUCATION › Part VI - Student Financial Assistance-Higher Education Savings › Chapter 3 - Education Savings Account › Section VI-315 - Miscellaneous Provisions

Current through Register Vol. 50, No. 6, June 20, 2024
A. Account
				Statements and Reports
1. The LATTA will
				forward to each account owner an annual statement of account which itemizes
				the:
a. date and amount of deposits and
				interest earned during the prior year;
b. total principal and interest accrued to
				the statement date; and
c. total
				EEs and interest thereon allocated to the account as of the statement
				date.
Louisiana Administrative Code › Title 28 - EDUCATION › Part VI - Student Financial Assistance-Higher Education Savings › Chapter 5 - Achieving a Better Life Experience (ABLE) › Section VI-501 - General Provisions

Current through Register Vol. 50, No. 6, June 20, 2024
A. The
				Louisiana Achieving a Better Life Experience (ABLE) Account Program was enacted
				in 2014 to provide a program of savings to encourage and assist individuals and
				families in saving private funds for the purpose of supporting persons with
				disabilities in endeavors to maintain health, independence, and quality of
				life. The purposes of the program include all of the following:
1. to pay qualified disability expenses so
				that persons with disabilities may maintain health, independence, and quality
				of life;
2. to provide secure
				funding for disability-related expenses on behalf of designated beneficiaries
				that will supplement, but not supplant, benefits provided through private
				insurance, the medical assistance program administered by this state in
				accordance with title XIX of the Social Security Act, the Supplemental Security
				Income Program under title XVI of such Act, the beneficiary's employment, and
				other sources;
3. to comply fully
				with all provisions of the Stephen Beck, Jr, ABLE Act of 2014 (Public Law
				113-295, Division B), and all regulations issued
				pursuant thereto.
Louisiana Administrative Code › Title 28 - EDUCATION › Part VI - Student Financial Assistance-Higher Education Savings › Chapter 5 - Achieving a Better Life Experience (ABLE) › Section VI-503 - Legislative Authority

Current through Register Vol. 50, No. 6, June 20, 2024
A. The
				Louisiana ABLE Act is established by Act 604 of the 2016 Regular Session of the
				Louisiana Legislature, 22-A, title 17 of the
Louisiana Revised
				Statutes
(R.S. 17:3081-3089).
AUTHORITY NOTE:
				  Promulgated in accordance with R.S.
				  17:3081-3089.
Louisiana Administrative Code › Title 28 - EDUCATION › Part VI - Student Financial Assistance-Higher Education Savings › Chapter 5 - Achieving a Better Life Experience (ABLE) › Section VI-505 - Program Administration

Current through Register Vol. 50, No. 6, June 20, 2024
A. The
				Louisiana Tuition Trust Authority (LATTA) is a statutory authority whose
				membership consists of the Board of Regents, plus one member from the Louisiana
				Bankers Association, the state treasurer, and one member each from the House of
				Representatives and Senate.
B. The
				LATTA administers the ABLE Account Program through the Board of Regents, Office
				of Student Financial Assistance (LOSFA).
C. LOSFA, a program under the Board of
				Regents, performs the functions of the state relating to programs of financial
				assistance and certain scholarship programs for higher education in accordance
				with directives of its governing bodies and applicable law, and as such is
				responsible for administering the ABLE account program under the direction of
				the LATTA.
AUTHORITY NOTE:
				  Promulgated in accordance with R.S.
				  17:3081-3089.
Louisiana Administrative Code › Title 28 - EDUCATION › Part VI - Student Financial Assistance-Higher Education Savings › Chapter 5 - Achieving a Better Life Experience (ABLE) › Section VI-509 - Establishment of an ABLE Account

Current through Register Vol. 50, No. 6, June 20, 2024
A. An
				ABLE account is established by or on behalf of an eligible individual to
				provide the funding necessary for qualified disability expenses
				(QDEs).
B. Only one ABLE account
				may be established for an eligible individual, whether the account is
				established in Louisiana or with another ABLE program.
C. The eligible individual must be a
Louisiana resident
as defined in §507 and must meet the
				following citizenship requirements:
1. be a
				United States citizen; or
2. be a
				permanent resident of the United States as defined by the U.S. Citizenship and
				Immigration Services (USCIS) or its successor and provide copies of USCIS
				documentation with the submission of the owner's agreement; or
3. be lawfully residing in the United States
				and have a valid Social Security number.
Louisiana Administrative Code › Title 28 - EDUCATION › Part VI - Student Financial Assistance-Higher Education Savings › Chapter 5 - Achieving a Better Life Experience (ABLE) › Section VI-511 - Deposits to ABLE Accounts

Current through Register Vol. 50, No. 6, June 20, 2024
A. Application
				Fee and Initial Deposit Amount
1. No
				application fee will be charged to those applying for an ABLE account on behalf
				of an eligible individual.
2.
				Financial and investment institutions may be authorized by the LATTA to offer
				assistance in establishing an ABLE account. (See fees in
				§509.G.4).
3. An initial deposit is not required to open
				an ABLE account; however, a deposit of at least $10 must be made within 180
				days from the date on the letter of notification of approval of the
				account.
4. A lump sum deposit may
				not exceed the annual contribution limit unless such deposit is the result of a
				rollover from another ABLE Program.
Louisiana Administrative Code › Title 28 - EDUCATION › Part VI - Student Financial Assistance-Higher Education Savings › Chapter 5 - Achieving a Better Life Experience (ABLE) › Section VI-513 - Disbursement of Account Funds for Payment of QDEs

Current through Register Vol. 50, No. 6, June 20, 2024
A. Request for Disbursement
1. An ABLE account administrator may request
				a disbursement at any time, but no more than twice per month.
2. The request for disbursement must include:
a. the ABLE account number;
b. the eligible Individual's name, address,
				and Social Security number;
c. the
				administrator's signature (may be electronic); and
d. the amount to be
				disbursed.
3. Requests
				for disbursements must be in whole dollar increments, must be no less than $200
				and may be no more than the account balance.
4. In the event funds are invested in more
				than one investment option, the disbursement shall be made proportionally from
				each investment option in the account.
5. Disbursements will be made only to the
				administrator of the account.
6.
				Disbursements from investment options with variable earnings shall be assigned
				a trade date of one business day after the business day of receipt of the
				transfer request.
7. Disbursements
				made during a period in which the person for whose benefit the account was
				opened is not an eligible individual as defined in
				§507 will not be
				considered qualified disbursements.
Louisiana Administrative Code › Title 28 - EDUCATION › Part VI - Student Financial Assistance-Higher Education Savings › Chapter 5 - Achieving a Better Life Experience (ABLE) › Section VI-515 - Effect on Federal and State Assistance Programs

Current through Register Vol. 50, No. 6, June 20, 2024
A. For the purpose of determining eligibility
				to receive, or the amount of, any assistance or benefit which may be received
				by the ABLE account owner by a means-tested federal assistance program, the
				following amounts shall be disregarded with respect to any period during which
				the beneficiary maintains his status as an eligible individual:
1. any amount, including earnings thereon, up
				to $100,000;
2. any contributions
				to the ABLE account of the eligible Individual;
3. any distributions from the account of the
				eligible individual, provided that such distributions are made for the purchase
				or payment of QDEs, subject to determination by the Social Security
				Administration that such distributions do not exceed allowable assets/income
				for a given period.
Louisiana Administrative Code › Title 28 - EDUCATION › Part VI - Student Financial Assistance-Higher Education Savings › Chapter 5 - Achieving a Better Life Experience (ABLE) › Section VI-517 - Termination, Refund, and Rollovers of an Education Savings Account

Current through Register Vol. 50, No. 6, June 20, 2024
A. Account
				Termination
1. The administrator may
				terminate an ABLE account at any time.
2. Through April 30, 2021, in the event the
				person for whose benefit the account was opened is no longer an
eligible individual
as defined in §507, the administrator
				shall
a. terminate the account; or
b. transfer the account to another eligible
				individual who is also a member of the family of the original
eligible
				individual
within 60 days of the determination that the original
				eligible individual is no longer qualified.
3. Beginning on May 1, 2021, in the event the
				person for whose benefit the account was opened ceases to be an
eligible individual
as defined in §507, the account may
				remain open through the end of the fifth full calendar year during which the
				person ceases to be an
eligible individual
as defined in
				§507 The
				administrator shall exercise one of the following options by the end of the
				applicable calendar year:
a. terminate the
				account; or
b. transfer the account
				to another eligible individual who is also a member of the family of the
				eligible individual.
4.
				The LATTA may terminate an account as follows.
a. If LATTA determines that funds have been
				disbursed for expenses other than QDEs, LATTA may require the return of the
				funds to the ABLE account. If funds are not returned to the account within 60
				days of a request to do so, LATTA, in its sole discretion, may refund any
				balance remaining and close the account.
b. The LATTA may terminate an account if no
				deposit of at least $10 has been made within 180 days from the date of
				notification of approval of the account.
c. The LATTA may terminate an account if the
				eligible individual for whom the account was opened no longer meets the
				criteria to be an eligible individual and a new eligible individual is not
				named by the end of the fifth full calendar year during which the person for
				whose benefit the account was opened ceases to be an eligible
				individual.
d. The LATTA may
				terminate an owner's agreement if it finds that the account owner or
				beneficiary provided false or misleading information (see §507).
i. If the LATTA terminates an owner's
				agreement under this Subsection, all interest earnings on principal deposits
				may be withheld and forfeited, with only principal being refunded.
ii. An individual who obtains program
				benefits by providing false or misleading information will be prosecuted to the
				full extent of the law.
Louisiana Administrative Code › Title 28 - EDUCATION › Part VI - Student Financial Assistance-Higher Education Savings › Chapter 5 - Achieving a Better Life Experience (ABLE) › Section VI-519 - Substitution, Assignment, and Transfer

Current through Register Vol. 50, No. 6, June 20, 2024
A. Substitute Beneficiary. The beneficiary of
				an ABLE account may be changed to a substitute beneficiary provided the account
				owner completes a beneficiary substitution form and the following requirements
				are met:
1. the substitute beneficiary is a
				member of the family as defined under §107;
2. the substitute beneficiary meets the
				citizen/resident alien requirements of
				§301 F, and, if
				the account owner is a nonresident of the state of Louisiana, the substitute
				beneficiary meets the applicable residency requirements (see
				§301.G)
Louisiana Administrative Code › Title 28 - EDUCATION › Part VI - Student Financial Assistance-Higher Education Savings › Chapter 5 - Achieving a Better Life Experience (ABLE) › Section VI-521 - Miscellaneous Provisions

Current through Register Vol. 50, No. 6, June 20, 2024
A. Account
				Statements and Reports
1. The LATTA will
				forward to each administrator an annual statement of account which itemizes
				the:
a. date and amount of deposits and
				interest earned during the prior year; and
b. total principal and interest accrued to
				the statement date.
Louisiana Administrative Code › Title 28 - EDUCATION › Part VI - Student Financial Assistance-Higher Education Savings › Chapter 7 - START K12 › Section VI-701 - General Provisions

Current through Register Vol. 50, No. 6, June 20, 2024
A. The
				Student Tuition and Revenue Trust Kindergarten through Twelfth Grade Program
				(START K12) was enacted in 2018 to implement provisions of the Tax Cuts and
				Jobs Act which allows Internal Revenue Code Section 529 college savings account
				funds to be used for tuition expenses related to enrollment in kindergarten
				through twelfth grade.
B. The
				purposes of the START K12 are the following:
1. To allow account owners to save for the
				tuition expenses related to enrollment in kindergarten through twelfth grade;
				and
2. To comply fully with
				Internal Revenue Code Section 529
Louisiana Administrative Code › Title 28 - EDUCATION › Part VI - Student Financial Assistance-Higher Education Savings › Chapter 7 - START K12 › Section VI-703 - Legislative Authority

Current through Register Vol. 50, No. 6, June 20, 2024
A. Act Number
				687 of the 2018 Regular Legislative Session, effective May 30, 2018, enacted
				the Louisiana Student Tuition Assistance and Revenue Trust START Saving
				Kindergarten Through Twelfth Grade Program (START K12) as chapter 22-B, title
				17 of the
Louisiana Revised Statutes
(R.S.
				17:3100.1-3100.10).
AUTHORITY NOTE:
				  Promulgated in accordance with
				  R.S.
				  17:3100.1 et
				  seq.
Louisiana Administrative Code › Title 28 - EDUCATION › Part VI - Student Financial Assistance-Higher Education Savings › Chapter 7 - START K12 › Section VI-705 - Program Administration

Current through Register Vol. 50, No. 6, June 20, 2024
A. The
				Louisiana Tuition Trust Authority (LATTA) is a statutory authority whose
				membership consists of the Louisiana Board of Regents, plus one member from the
				Louisiana Bankers Association, the state treasurer, and one member each from
				the House of Representatives and Senate.
B. The LATTA administers the START K12
				Program through the Louisiana Board of Regents, Office of Student Financial
				Assistance (LOSFA).
C. LOSFA, a
				program of the Board of Regents, performs the functions of the state relating
				to programs of financial assistance and certain scholarship programs for higher
				education in accordance with directives of its governing bodies and applicable
				law, and as such is responsible for administering the START K12 Program under
				the direction of the LATTA.
AUTHORITY NOTE:
				  Promulgated in accordance with
				  R.S.
				  17:3100.1 et
				  seq.
Louisiana Administrative Code › Title 28 - EDUCATION › Part VI - Student Financial Assistance-Higher Education Savings › Chapter 7 - START K12 › Section VI-709 - START K12 Program Accounts

Current through Register Vol. 50, No. 6, June 20, 2024
A. A START K12
				Program account is established on behalf of a designated beneficiary to provide
				the funding for tuition necessary for the beneficiary to attend public or
				private school for any of kindergarten through twelfth grade.
1. The account owner classified under
				§711.A 1, 2, 3, and 4 shall designate the beneficiary in the owner's
				agreement.
2. The account owner
				classified under §711.A.5 may designate the beneficiary in the owner's
				agreement, provided the beneficiary is not a member of the account owner's
				family, or authorize the LATTA to select a beneficiary for the
				account.
3. A beneficiary selected
				by the LATTA must meet the following criteria:
a. the beneficiary is a Louisiana
				resident;
b. the federal adjusted
				income of the beneficiary's family is less than $30,000 or the beneficiary is
				eligible for a free lunch under the Richard B. Russell National School Act (42 USC
				1751 et seq.);
c. the beneficiary is not a member of the
				account owner's family nor a member of the family of any member or employee of
				the authority or LOSFA;
4. Procedure for Selection
				(Reserved)
Louisiana Administrative Code › Title 28 - EDUCATION › Part VI - Student Financial Assistance-Higher Education Savings › Chapter 7 - START K12 › Section VI-711 - Account Owner Classifications

Current through Register Vol. 50, No. 6, June 20, 2024
A. An
				account owner shall be classified by the authority under one of the following
				classifications:
1. a person or persons
				determined by the authority to be the parent, grandparent, or court ordered
				custodian of the person being designated as beneficiary of the account or who
				claim the person being designated as beneficiary as a dependent on their
				federal income tax return, and, at the time of the initiation of the agreement,
				the person or beneficiary is a resident of the state; or
2. a person determined by the authority to be
				a member of the family of the beneficiary and, at the time of the initiation of
				the agreement, the person or the beneficiary is a resident of the state;
				or
3. any other person and, at the
				time of the initiation of the agreement, the beneficiary is a resident of the
				state; or
4. any other person who,
				at the time of the initiation of the agreement, is a resident of the state and
				the beneficiary is not a resident of the state;
5. any other person or any government entity,
				and at the time of the initiation of the agreement:
a. the beneficiary is a resident of the
				state;
b. the federal adjusted
				income of the beneficiary's family is less than $30,000 or the beneficiary must
				be eligible for a free lunch under the Richard B. Russell National School Act (42 USC
				1751 et seq.);
c. the beneficiary is not a member of the
				account owner's family nor a member of the family of any member or employee of
				the authority or LOSFA;
d. the
				deposits to the account are an irrevocable donation by the owner.
Louisiana Administrative Code › Title 28 - EDUCATION › Part VI - Student Financial Assistance-Higher Education Savings › Chapter 7 - START K12 › Section VI-713 - Deposits to Education Savings Accounts

Current through Register Vol. 50, No. 6, June 20, 2024
A. Application Fee and Initial Deposit Amount
1. No application fee will be charged to
				participants applying for a START K12 account directly to the LATTA.
2. Financial and investment institutions may
				be authorized by the LATTA to offer assistance in establishing a START K12
				account. (See
fees
in §709.D 6)
3. An initial deposit is not required to open
				an START K12 account; however, a deposit of at least $10 must be made within
				180 days from the date on the letter of notification of approval of the
				account.
4. A lump sum deposit may
				not exceed the maximum allowable account balance (see §707).
Louisiana Administrative Code › Title 28 - EDUCATION › Part VI - Student Financial Assistance-Higher Education Savings › Chapter 7 - START K12 › Section VI-715 - Disbursement of Account Funds for Payment of Qualified Education Expenses of a Beneficiary

Current through Register Vol. 50, No. 6, June 20, 2024
A. Request
				for Disbursement
1. For each term the account
				owner intends to fund the beneficiary's qualified education expenses, the
				account owner shall submit a request for disbursement.
2. The request for disbursement must include:
a. the START K12 account number;
b. the account owner's name, address, and
				signature (may be electronic);
c.
				the beneficiary's name and address;
d. the amount to be disbursed and to whom;
				and
e. the name and address of the
				eligible educational institution.
3. In the event funds are invested in more
				than one investment option, the disbursement shall be made proportionally from
				each investment option in the account.
4. If there is more than one account with the
				same beneficiary, each account owner requesting a disbursement must complete a
				request for disbursement and the disbursements shall be made from each account,
				in turn, in the order the disbursement requests were
				received.
Louisiana Administrative Code › Title 28 - EDUCATION › Part VI - Student Financial Assistance-Higher Education Savings › Chapter 7 - START K12 › Section VI-717 - Termination, Refund, and Rollovers of a START K12 Account

Current through Register Vol. 50, No. 6, June 20, 2024
A. Account Termination
1. The account owner who is a natural person,
				other than a natural person classified as an account owner under §711.A 5,
				may terminate an account at any time.
2. The LATTA may terminate an account in
				accordance with this Subsection, §717.D or §717 E
3. The LATTA may terminate an account if no
				deposit of at least $10 has been made within 180 days from the date on the
				letter of notification of approval of the account.
4. The LATTA may terminate an account if the
				beneficiary dies and a new beneficiary is not named within 60 days of the
				death.
5. The LATTA may terminate
				an account if the beneficiary becomes disabled and a new beneficiary is not
				named by the time the beneficiary who has become disabled reaches age
				21.
6. The account owner who is a
				legal entity or is classified under §711.A 5, may not terminate an
				account; however, the account owner who is a legal entity or is classified
				under §711.A.5 may designate a substitute beneficiary in accordance with
				§719.A.3 b
Louisiana Administrative Code › Title 28 - EDUCATION › Part VI - Student Financial Assistance-Higher Education Savings › Chapter 7 - START K12 › Section VI-719 - Substitution, Assignment, and Transfer

Current through Register Vol. 50, No. 6, June 20, 2024
A. Substitute Beneficiary. The beneficiary of
				a START K12 account may be changed to a substitute beneficiary provided the
				account owner completes a beneficiary substitution form and the following
				requirements are met:
1. the substitute
				beneficiary is a member of the family as defined under §707;
2. the substitute beneficiary meets the
				citizen/resident alien requirements of §709 F, and, if the account owner
				is a nonresident of the state of Louisiana, the substitute beneficiary meets
				the applicable residency requirements (see §709 G);
3. if the substitute beneficiary is not a
				member of the family of the previous beneficiary:
a. and the account owner is a natural person
				classified under §711.A 1-4, the account must be refunded to the account
				owner and a new account must be opened;
b. and the account owner is a legal entity
				classified under §711.A.3 or 4, a new account shall be opened in the name
				of the new beneficiary. These transfers may be treated as refunds under federal
				and state tax laws in which case the account owner will be subject to any
				associated tax consequences; and
c.
				and the account owner is classified under §711.A 5, a new account shall be
				opened in the name of the new beneficiary only if the beneficiary meets all the
				requirements of §711.A 5; and
i. these
				transfers may be treated as refunds under federal and state tax laws in which
				case the account owner will be subject to any associated tax consequences;
				and
ii. the provisions of
				§709.A.2 shall apply to account owners classified in accordance with
				§711.A 5
Louisiana Administrative Code › Title 28 - EDUCATION › Part VI - Student Financial Assistance-Higher Education Savings › Chapter 7 - START K12 › Section VI-721 - Miscellaneous Provisions

Current through Register Vol. 50, No. 6, June 20, 2024
A. Account
				Statements and Reports
1. The LATTA will
				forward to each account owner an annual statement of account which itemizes
				the:
a. date and amount of deposits and
				interest earned during the prior year; and
b. total principal and interest accrued to
				the statement date; and
Louisiana Administrative Code › Title 28 - EDUCATION › Part VII - Tuition Trust Authority › Chapter 1 - Bylaws › Section VII-103 - Meetings

Current through Register Vol. 50, No. 6, June 20, 2024
A. Regular Meetings
1. The authority shall hold at least one but
				not more than 12 meetings per calendar year.
2. All regular meetings shall be held at
				meeting places designated by the authority.
3. Proxy voting shall be allowed at all
				meetings for the chairman of the State Board of Elementary and Secondary
				Education; Board of Supervisors, Louisiana State University; Board of
				Supervisors, Southern University; Board of Regents; Board of Supervisors,
				University of Louisiana System and Louisiana Association of Independent
				Colleges and Universities, or each of their designees; however, any proxy
				holder must also be a member of that respective board.
4. The state superintendent of education and
				the state treasurer may vote by proxy through members of their executive
				staffs.
5. The member from the
				Louisiana Bankers Association may vote by proxy. No other members shall have
				the right of proxy voting.
Louisiana Administrative Code › Title 28 - EDUCATION › Part VII - Tuition Trust Authority › Chapter 1 - Bylaws › Section VII-105 - Officers of the Authority and Executive Staff

Current through Register Vol. 50, No. 6, June 20, 2024
A. Chairman and Vice-Chairman
1. The chairman of the Louisiana Student
				Financial Assistance Commission shall serve as chairman of the
				authority.
2. The authority shall
				select a vice-chairman annually.
3.
				The authority may elect such other officers as it deems necessary.
4. The chairman of the authority shall
				preside over all meetings of the authority; serve as ex officio member of all
				committees; name the appointive members of all standing and special committees
				of the authority; and fill all vacancies in the membership of such committees,
				in accordance with the provisions of these bylaws.
5. The vice-chairman of the authority shall
				perform the duties of the chairman in the absence of the chairman.
6. In the event both the chairman and the
				vice-chairman are absent from a meeting of the authority, the authority shall
				elect a temporary chairman from those present.
Louisiana Administrative Code › Title 28 - EDUCATION › Part VII - Tuition Trust Authority › Chapter 1 - Bylaws › Section VII-107 - Order of Business

Current through Register Vol. 50, No. 6, June 20, 2024
A. Rules of
				Order. When not in conflict with any of the provisions of this article,
Roberts Rules of Order
(latest revision) shall constitute the
				rules of parliamentary procedure applicable to all meetings of the authority or
				its committees.
B. Order of
				Business. The order of business of regular meetings of the authority shall be
				as follows, unless the rules are suspended by a simple majority of the quorum
				present:
1. call to order;
2. roll call;
3. introductions and announcements;
4. corrections and approval of minutes of
				preceding regular meetings and of all special meetings held subsequently
				thereto;
5. public
				comment;
6. program updates and
				special reports;
7. old business,
				including reports and recommendations of standing and special
				committees;
8. new business;
				and
9. adjournment.
Louisiana Administrative Code › Title 28 - EDUCATION › Part VII - Tuition Trust Authority › Chapter 1 - Bylaws › Section VII-109 - Committees

Current through Register Vol. 50, No. 6, June 20, 2024
A. In addition to
				the executive committee established in these bylaws, the authority may
				establish standing committees by simple vote of a majority of the membership of
				the authority.
B. Appointment and
				Terms
1. Members of all standing committees,
				one of whom shall be designated as chairman and one of whom shall be designated
				as vice-chairman, shall be appointed by the chairman of the authority,
				ordinarily soon after the chairman assumes office.
2. The state treasurer shall serve as the
				chairman of the investment committee.
3. The vice chairman of the authority shall
				be chairman of the rules committee.
4. The term of committee appointments shall
				be one year.
5. Vacancies occurring
				among the appointive members of any committees, however arising, shall be
				filled by the chairman of the authority for the remainder of the unexpired
				term.
Louisiana Administrative Code › Title 28 - EDUCATION › Part VII - Tuition Trust Authority › Chapter 1 - Bylaws › Section VII-111 - Communications to the Authority

Current through Register Vol. 50, No. 6, June 20, 2024
A. All
				communications to the authority, or to any committee thereof, from persons
				having official relations with the authority shall be filed in writing with the
				executive director and duly transmitted by him to the authority.
B. "Official relations" with the authority
				shall include those with other agencies of government, contractors, and
				employees.
C. The executive
				director shall have the authority to read and comment upon all communications
				from employees of the office but shall not delay or withhold such
				communications, except as hereinafter provided.
1. Such communications shall be filed with
				the executive director at least five days before the meeting of the authority
				or committee and with the chairman at least three days before such
				meeting.
2. Otherwise, the
				executive director may either submit such communication at that time or
				withhold such communication until the next meeting.
3. In the event the executive director elects
				to withhold any such communication until the next meeting, such communication
				shall be promptly forwarded to the chairman with the notation of the executive
				director concerning such withholding.
Louisiana Administrative Code › Title 28 - EDUCATION › Part VII - Tuition Trust Authority › Chapter 1 - Bylaws › Section VII-113 - Rights, Duties and Responsibilities of Executive Staff of the Authority

Current through Register Vol. 50, No. 6, June 20, 2024
A. Executive Staff
				of the Authority
1. The executive staff shall
				be tasked, directed and supervised by the executive director.
2. Unless otherwise directed by the executive
				director, the executive staff shall attend the meetings of the authority and
				its various committees.
Louisiana Administrative Code › Title 28 - EDUCATION › Part VII - Tuition Trust Authority › Chapter 1 - Bylaws › Section VII-115 - Responsibilities of Authority Members

Current through Register Vol. 50, No. 6, June 20, 2024
A.
				Authority members are charged with the responsibility of ensuring that the
				functions and duties of the Office of Student Financial Assistance as they
				relate to the authority's program are performed effectively in fulfilling the
				purposes of
				R.S.
				17:3091 through 3099.2.
B. Prior to assuming the responsibilities to
				which appointed and to avoid any potential conflict of interest, an authority
				member shall, to the best of his or her knowledge, disclose to the State Board
				of Ethics any pre-existing relationship between the authority and the member,
				the member's immediate family, or any entity in which the member has a
				substantial economic interest. This obligation to disclose is a continuing
				obligation.
AUTHORITY NOTE:
				  Promulgated in accordance with
				  R.S.
				  17:3093 et
				  seq.
Louisiana Administrative Code › Title 28 - EDUCATION › Part VII - Tuition Trust Authority › Chapter 1 - Bylaws › Section VII-117 - Amendment or Repeal of Bylaws

Current through Register Vol. 50, No. 6, June 20, 2024
A. New
				bylaws may be adopted, and bylaws may be amended or repealed, at any meeting of
				the authority, but no such action shall be taken unless notice of such proposed
				adoption, amendment, or repeal shall have been given at a previous meeting or
				notice in writing of the proposed change shall have been served upon each
				member of the authority at least 30 days in advance of the final vote upon such
				change, provided, however, when deemed necessary, that by a simple majority of
				the entire membership of the authority, the requirements for such notice may be
				waived at any time.
AUTHORITY NOTE:
				  Promulgated in accordance with
				  R.S.
				  17:3093 et
				  seq.
Louisiana Administrative Code › Title 28 - EDUCATION › Part VII - Tuition Trust Authority › Chapter 1 - Bylaws › Section VII-119 - Rules and Regulations of Louisiana Tuition Trust Authority

Current through Register Vol. 50, No. 6, June 20, 2024
A. Any action by
				the authority establishing policy or methods of procedure, administrative,
				business, or otherwise shall be known as "Rules and Regulations of the
				Louisiana Tuition Trust Authority."
B. "Rules and Regulations of the Louisiana
				Tuition Trust Authority" may be adopted by the authority, or may be amended or
				repealed, in whole or in part, at any meeting of the authority by a vote of
				simple majority.
C. All policies
				and procedures of the authority falling within the definition of rules and
				regulations, as herein defined, and in existence upon the date of the adoption
				of these bylaws, shall be a part of the "Rules and Regulations of the Louisiana
				Tuition Trust Authority."
AUTHORITY NOTE:
				  Promulgated in accordance with
				  R.S.
				  17:3093 et
				  seq.
Louisiana Administrative Code › Title 28 - EDUCATION › Part VII - Tuition Trust Authority › Chapter 1 - Bylaws › Section VII-121 - Effective Dates

Current through Register Vol. 50, No. 6, June 20, 2024
A. These bylaws
				shall be adopted and shall become effective on the date they are published as
				final rules in the
Louisiana Register
.
AUTHORITY NOTE:
				  Promulgated in accordance with
				  R.S.
				  17:3093 et
				  seq.
Louisiana Administrative Code › Title 28 - EDUCATION › Part VII - Tuition Trust Authority › Chapter 1 - Bylaws › Section VII-123 - Repealing Clause

Current through Register Vol. 50, No. 6, June 20, 2024
A. No member of
				the board shall communicate in any manner concerning a project application with
				any representative of an applicant firm or anyone communicating on behalf of an
				applicant firm. This restriction shall apply from the time advertisement of a
				project begins until the opening of the board meeting at which the project
				application will be considered.
AUTHORITY NOTE:
				  Promulgated in accordance with
				  R.S.
				  38:2311.
Louisiana Administrative Code › Title 28 - EDUCATION › Part VII - Tuition Trust Authority › Chapter 1 - Bylaws › Section VII-125 - Conforming Clause

Current through Register Vol. 50, No. 6, June 20, 2024
A. No rule,
				order, regulation or resolution shall be adopted by the authority which is in
				conflict or is inconsistent with the law, rules, guidelines, officer selection
				and employment policies applicable to the Louisiana Student Financial
				Assistance Commission.
AUTHORITY NOTE:
				  Promulgated in accordance with
				  R.S.
				  17:3093 et
				  seq.
Louisiana Administrative Code › Title 28 - EDUCATION › Part VIII - Indian Affairs Scholarship › Chapter 1 - General Provisions › Section VIII-101 - Purpose

Current through Register Vol. 50, No. 6, June 20, 2024
A. This Part
				establishes procedures for the Indian Affairs Scholarship Program. LAC 28:VIII
				outlines the process of applying for and awarding the American Indian
				Scholarship.
AUTHORITY NOTE:
				  Promulgated in accordance with
				  R.S.
				  46:2303 and
				  R.S.
				  47:463.78.
Louisiana Administrative Code › Title 28 - EDUCATION › Part VIII - Indian Affairs Scholarship › Chapter 1 - General Provisions › Section VIII-103 - Enrollment

Current through Register Vol. 50, No. 6, June 20, 2024
A. The scholarship
				applicant can enroll and be accepted into any institute of higher
				learning.
AUTHORITY NOTE:
				  Promulgated in accordance with
				  R.S.
				  46:2303 and
				  R.S.
				  47:463.78.
Louisiana Administrative Code › Title 28 - EDUCATION › Part VIII - Indian Affairs Scholarship › Chapter 3 - Scholarship Application › Section VIII-301 - Application

Current through Register Vol. 50, No. 6, June 20, 2024
A. Any student
				applying for the American Indian Scholarship must complete the application
				packet as provided through the Office of Indian Affairs. This application
				solicits the following data:
1. personal
				information;
2. financial
				information and verification; and
3. academic information and
				verification.
Louisiana Administrative Code › Title 28 - EDUCATION › Part VIII - Indian Affairs Scholarship › Chapter 3 - Scholarship Application › Section VIII-303 - Application Review

Current through Register Vol. 50, No. 6, June 20, 2024
A. Applications
				will be reviewed on a competitive basis and selections will be based on the
				following criteria:
1. heritage;
2. financial need;
3. short essay answers; and
4. academic performance.
Louisiana Administrative Code › Title 28 - EDUCATION › Part IX - Regents. › Chapter 1 - Fiscal Administrator Revolving Loan Fund › Section IX-101 - Definition of Terms

Current through Register Vol. 50, No. 6, June 20, 2024
A. For the purpose
				of this Chapter, the following shall mean:
Application
-formal request for loan from the
				  fund for the payment of fiscal administration costs.
Court
-the state district court ordering the
				  independent fiscal administration of the political subdivision and appointment
				  of a fiscal administrator pursuant to
				  R.S.
				  39:1351,
et seq
.
Estimated Costs
-the estimated costs and
				  expenses associated with the independent fiscal administration of the political
				  subdivision, including but not limited to all costs and expenses incurred by
				  the fiscal administrator, the legislative auditor, the attorney general, the
				  state treasurer, an any other persons engaged in connection with the
				  independent fiscal administration.
Fiscal Administration Costs
-the actual costs
				  and expenses associated with the independent fiscal administration of the
				  political subdivision, including but not limited to all costs and expenses
				  incurred by the fiscal administrator, the legislative auditor, the attorney
				  general, the state treasurer, an any other persons engaged in connection with
				  the independent fiscal administration.
Fiscal Administrator
-the court appointed
				  fiscal administrator pursuant to
				  R.S.
				  39:1351,
et seq.
Fund
-the fiscal administrator revolving loan
				  fund, as established in
				  R.S.
				  39:1357.
Loan
-maximum principal amount authorized to
				  the political subdivision from the fund through a loan agreement to the
				  department of treasury for the sole purpose of paying fiscal administration
				  costs.
Loan Agreement
-the executed evidence of
				  indebtedness of the political subdivision to repay the loan from the
				  fund.
AUTHORITY NOTE:
				  Promulgated in accordance with
				  R.S.
				  39:1357.
Louisiana Administrative Code › Title 28 - EDUCATION › Part IX - Regents. › Chapter 1 - Fiscal Administrator Revolving Loan Fund › Section IX-105 - License Fees

Current through Register Vol. 50, No. 6, June 20, 2024
A. After passing
				the resolution or ordinance as described in
				R.S.
				39:1357(E) and (F), the
				political subdivision shall transmit an application, using the form established
				by the department of treasury, to the legislative auditor.
B. Such application should contain the
				following:
1. name of the public entity,
				including:
a. names of chief administrative
				officer and board/council members;
b. physical address;
c. mailing address;
d. email of chief administrative officer;
				and
e. phone number.