{"data":{"id":"us-ky/krs-164a.300","jurisdiction":"us-ky","citation":"KRS 164A.300","heading":"Legislative findings and intent.","body":"(1) The General Assembly of the Commonwealth of Kentucky hereby declares as a\nlegislative finding of fact that the general welfare and well -being of the\nCommonwealth are directly related to the educational levels and skills of the\ncitizens of the Commonwealth.  Therefore, a vital and valid public purpose of the\nCommonwealth is served by the creation and implementation of programs which\nencourage and make possible the attainment of higher education by the greatest\nnumber of citizens of the Commonwealth.\n(2) The General Assembly finds, declares, and recognizes that the Commonwealth has\nlimited resources to provide additional programs for higher education funding and\nthat the continued operation and maintenance of the institutions of higher education\nin Kentucky and the general welfare of the citizens and the Commonwealth will be\nenhanced by creation of a program pursuant to which citizens and others may invest\nmoney in a public trust for future application to the payment of higher education\ncosts in the Commonwealth  and elsewhere and that the creation of a means of\nencouragement of citizens in the investment of funds for such future higher\neducation application represents the carrying out of a valid and vital public purpose\nof the Commonwealth. In order to make avail able to the citizens of the\nCommonwealth an opportunity to fund future higher education needs for\nbeneficiaries, it is necessary that a public trust be established in which the citizens\nof the Commonwealth and others may invest moneys for future educational use.\n(3) It is the intent of the General Assembly of the Commonwealth of Kentucky to create\nthe Kentucky Educational Savings Plan Trust. The implementation and effectuation\nof the Kentucky Educational Savings Plan Trust as provided by KRS 164A.300 to\n164A.380 constitutes the carrying out of a valid and vital public purpose for which\npublic funds of the Commonwealth may be expended.\n(4) It is in the best interest of the people of the Commonwealth to establish and provide\nfor the operation of the Kentucky E ducational Savings Plan Trust in a manner\nconforming to federal law that allows participants and beneficiaries federal income\ntaxation benefits on contributions and earnings on contributions expended by the\ntrust for the higher education costs of a beneficiary.","path":["KRS Chapter 164A"],"source_url":"https://apps.legislature.ky.gov/law/statutes/statute.aspx?id=4556","current_through":"Includes enactments through the 2026 Regular Session","vintage":"09/05/2026","retrieved_at":"2026-09-05T20:51:19Z","sha256":"caaa3accfbbf9b1e316cc9f759fc074bcb783147d18e4a0f3878eaf4236f7d23","source_id":"us-ky","stale":false,"prev":"us-ky/krs-164a.260","next":"us-ky/krs-164a.305"},"notice":"GroundRules: Original legal text. Not legal advice."}