2010 Idaho Code
TITLE 33 EDUCATION
CHAPTER 54 COLLEGE SAVINGS PROGRAM
33-5409 COLLEGE SAVINGS FUND.
EDUCATION
CHAPTER 54
COLLEGE SAVINGS PROGRAM
33-5409. College savings fund. (1) There is hereby created in the state treasury the "College Savings Fund" to which shall be credited:
(a) Administrative fees and service charges in connection with any agreement, contract or transaction related to the college savings program;
(b) Fees and charges collected to cover costs associated with the powers and duties of the state college savings board as required in section 33-5402, Idaho Code;
(c) Interest earned on the investment of idle moneys in the fund, which shall be paid to the fund; and
(d) All other moneys as may be provided by law.
(2) Moneys in the fund shall be continuously appropriated to the treasurer of the state of Idaho, and any moneys remaining in the fund at the end of each fiscal year shall not be appropriated to any other fund.
(3) Moneys in the fund shall only be used to effect the purposes of this chapter, pursuant to the provisions as prescribed herein; provided however, the office of the state treasurer is authorized to retain a portion of the moneys not to exceed one-half of one percent (0.5%) of the fund’s annual revenues to defray costs associated with the implementation, administration and oversight of the college savings program.
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