NevadaAB58283rd Regular Session (2025)HouseWALLET

AN ACT relating to state financial administration; revising provisions relating to the Governor Guinn Millennium Scholarship Program; and providing other matters properly relating thereto.

Sponsored By: Assembly Committee on Ways and Means

Signed by Governor

BDR 31-1226

Your PRIA Score

Score Hidden

Personalized for You

How does this bill affect your finances?

Sign up for a PRIA Policy Scan to see your personalized alignment score for this bill and every other piece of legislation we track. We analyze your financial profile against policy provisions to show you exactly what matters to your wallet.

Free to start

Bill Overview

Analyzed Economic Effects

4 provisions identified: 2 benefits, 1 costs, 1 mixed.

Higher cap on Millennium Scholarship overhead

Beginning July 1, 2025, up to 13% of Nevada’s anticipated yearly tobacco-settlement revenue can pay to run the Governor Guinn Millennium Scholarship Program. The cap was 3% before. Allowing more for administration can leave less for scholarships.

More support for Kick Start, ABLE, and money lessons

Endowment Account money can fund Nevada College Kick Start accounts. It can also support financial education for Nevada residents and the Nevada ABLE Savings Program. These education and ABLE costs are limited to 10% of Endowment money the program received in the first year of the last biennium that was not from savings trust agreements and not needed for the Administrative Account. Endowment funds may also pay costs tied to the Treasurer’s financial literacy and security duties.

New structure for college savings funds

Beginning July 1, 2025, the State Treasurer runs the College Savings Trust Fund and its accounts. The Treasurer keeps three main accounts: a Program Account in the Trust Fund, and an Administrative and an Endowment Account in the State General Fund. The Program Account receives, invests, and pays out money under savings trust agreements. The Administrative Account pays to run and market the Nevada College Savings Program and helps run the Prepaid Tuition Program. Money not from savings trust agreements, and not needed for the Administrative Account, goes to the Endowment Account, as decided by the Treasurer.

Caps and approval for marketing and admin

Marketing costs taken from the Endowment Account are capped at 7% of Endowment money the program received in the first year of the last biennium, excluding NRS 353B.360 deposits, that was not from savings trust agreements and not needed for the Administrative Account. Endowment funds can pay administrative costs for the Prepaid Tuition and College Savings programs, including Kick Start, only if approved by the Legislature or the Interim Finance Committee.

Sponsors & Cosponsors

Sponsor

  • Assembly Committee on Ways and Means

    Affiliation unavailable

Cosponsors

There are no cosponsors for this bill.

Roll Call Votes

All Roll Calls

Yes: 62 • No: 0

Senate vote 5/29/2025

Final Passage - Senate (As Introduced)

Yes: 20 • No: 0

House vote 5/27/2025

Final Passage - Assembly (As Introduced)

Yes: 42 • No: 0

Actions Timeline

  1. Chapter 277.

    6/6/2025legislature
  2. Approved by the Governor.

    6/5/2025legislature
  3. Enrolled and delivered to Governor.

    6/1/2025legislature
  4. In Assembly. To enrollment.

    5/30/2025House
  5. Read third time. Passed. Title approved. (Yeas: 20, Nays: None, Excused: 1.) To Assembly.

    5/29/2025Senate
  6. Read second time.

    5/28/2025Senate
  7. Placed on Second Reading File.

    5/28/2025Senate
  8. From committee: Do pass.

    5/28/2025Senate
  9. Read first time. Referred to Committee on Government Affairs. To committee.

    5/27/2025Senate
  10. In Senate.

    5/27/2025Senate
  11. Read third time. Passed. Title approved. (Yeas: 42, Nays: None.) To Senate.

    5/27/2025House
  12. Read second time.

    5/26/2025House
  13. Placed on Second Reading File.

    5/26/2025House
  14. From committee: Do pass.

    5/26/2025House
  15. From printer. To committee.

    5/15/2025House
  16. Read first time. Referred to Committee on Ways and Means. To printer.

    5/14/2025House

Bill Text

  • As Enrolled

  • As Introduced

Related Bills

Back to State Legislation