Support for AB 530 - The Golden State Scholarshare Trust Act
AS-2380-97/F&GA - September 11-12, 1997
RESOLVED: That the Academic Senate of the California State University express its support for AB 530, the Golden State Scholarshare Trust Act and urge Governor Wilson to sign the legislation.
RATIONALE: AB 530 enacts the Golden State Scholarshare Trust Act which would enable participants ("parents, grandparents, friends, relatives, neighbors...anyone") to invest their own funds up to the maximum CalGrant in a structured tax-free open savings account (Scholarshare Investment Agreement) for the sole purpose of saving for future costs at institutions of higher education.
The Academic Senate of the California State University is committed to public policy strategies which help future students of the California State University and their families plan for and alleviate the future costs of higher education.
APPROVED WITHOUT DISSENT September 11-12, 1997