It is the intent of the Legislative Assembly, in enacting ORS 348.841 to 348.873, to create a higher education qualified tuition savings program called the Oregon 529 College Savings Network:
(1) That increases the ability of families and individuals to save for higher education.
(2) In which the earnings on contributions of network participants are exempt from state income taxation.
(3) That utilizes the private sector to administer and invest the contributions to the network under the guidance of the Oregon 529 College Savings Board.
(4) In which the contributions and earnings are held by the network in trust for the benefit of designated beneficiaries and account owners for the uses and purposes set forth in ORS 348.841 to 348.873, and for no other benefit, use or purpose. [1999 c.746 §2; 2001 c.12 §2; 2003 c.280 §7]
Note: See note under 348.841.
Section: Previous 348.805 348.815 348.825 348.830 348.835 348.840 348.841 348.844 348.845 348.849 348.853 348.855 348.856 348.857 348.860 NextLast modified: August 7, 2008