(2)(a) All moneys credited to the Oregon 529 College Savings Plan Subaccount are continuously appropriated to the Oregon 529 Savings Board for the purpose of administering accounts established for qualified higher education expenses under ORS 178.300 to 178.360.
(b) All moneys credited to the Oregon 529 ABLE Subaccount are continuously appropriated to the board for the purpose of administering a qualified ABLE program pursuant to ORS 178.380.
(3) Each subaccount in the Oregon 529 Savings Network Fund shall consist of:
(a) Moneys appropriated to the subaccount by the Legislative Assembly;
(b) Moneys transferred to the subaccount from the federal government, other state agencies or local governments;
(c) Moneys from the payment of fees and the payment of other moneys due the board;
(d) Any gifts or donations made to the State of Oregon for deposit in the subaccount; and
(e) Earnings on moneys in the subaccount.
(4)(a) The board may use the moneys in the Oregon 529 College Savings Plan Subaccount to pay the administrative costs and expenses of the board and the Oregon 529 Savings Network related to the administration of accounts established for qualified higher education expenses under ORS 178.300 to 178.360, to provide or make available scholarships, grants and other incentives to account owners, potential account owners and their designated beneficiaries or to further any other purpose of ORS 178.300 to 178.360.
(b) The board may use the moneys in the Oregon 529 ABLE Subaccount to pay the administrative costs and expenses of the board and the Oregon 529 Savings Network related to the administration of the qualified ABLE program established under ORS 178.380, to provide or make available incentives to owners of ABLE accounts or potential account owners and their designated beneficiaries or to further any other purpose of the qualified ABLE program established under ORS 178.380. [Formerly 348.856; 2018 c.23 §3; 2019 c.85 §3]
Structure 2021 Oregon Revised Statutes
Volume : 05 - State Government, Government Procedures, Land Use
Chapter 178 - State Treasurer; Oregon Retirement Savings Plan; Oregon 529 Savings Network
Section 178.010 - Oath and bond.
Section 178.050 - Duties of State Treasurer.
Section 178.065 - Authority of State Treasurer to require fingerprints.
Section 178.200 - Oregon Retirement Savings Board.
Section 178.205 - Powers and duties of Oregon Retirement Savings Board; rules.
Section 178.210 - Requirements for Oregon Retirement Savings Plan.
Section 178.215 - Rules for Oregon Retirement Savings Plan.
Section 178.220 - Confidentiality of account information.
Section 178.225 - Oregon Retirement Savings Plan Administrative Fund.
Section 178.230 - Prerequisites to establishment of Oregon Retirement Savings Plan.
Section 178.250 - Compliance with plan; complaints.
Section 178.255 - Investigation by Commissioner of Bureau of Labor and Industries; civil penalty.
Section 178.260 - Final orders relating to compliance.
Section 178.300 - Definitions for ORS 178.300 to 178.360.
Section 178.305 - Oregon 529 Savings Network.
Section 178.310 - Oregon 529 Savings Board; membership.
Section 178.315 - Board powers and duties; rules.
Section 178.320 - Oregon 529 Savings Network Fund; College Savings Plan Subaccount; ABLE Subaccount.
Section 178.335 - Network participation for higher education expenses; contribution limits; fees.
Section 178.345 - Prohibitions and limitations on accounts for higher education expenses.
Section 178.355 - Withdrawals from accounts for higher education expenses; rules; report.
Section 178.375 - Definitions for ORS 178.375, 178.380 and 178.385.