Joyce Kingsbury voted Nay (Passage) on this Legislation.
Title: State-Sponsored Children's Savings Accounts
Vote to pass a bill that would establish savings accounts for all eligible children born on or after January 1, 2010 with an initial deposit of $500 from the state.
-Specifies that the state may match up to $500 of eligible deposits to a child account per year, and limits the total aggregate contributions to any child's account to no more than $2,000 per year (Secs. 2 and 4). -Prohibits withdrawals from a child's account prior to the child reaching the age of 18 (Sec. 2). -Specifies that upon reaching the age of 18 a child may withdraw money out of his or her account for the following purposes (Sec. 4):