Nevada Administrative Code

NAC 353B.695 Termination of account: Conditions; notice; distribution. (NRS 353B.310) 1. An account may be terminated if the account has a balance of less than $1,000 and no contributions or withdrawals have been made within the preceding 2 calendar years. Before the termination …

NAC 353B.700 Fees to support continued operation of Program. (NRS 353B.310) The Board may charge fees based on the total assets and accounts of the Program to support the continued operation of the Program. These fees will accrue daily and must be remitted by the Program Manager …

NAC 353B.705 Other fees. (NRS 353B.310) The Program Manager and each Plan Investment Manager may charge such fees as are agreed to by the Program Manager and the Board. (Added to NAC by St. Treasurer by R185-01, eff. 4-5-2002; A by R054-09, 10-27-2009)

NAC 353B.710 Accounting and expenditure if money provided by private entities for direct expenses and marketing. (NRS 353B.310, 353B.360) If the State Treasurer, pursuant to NRS 353B.360, accepts on behalf of the Nevada College Savings Trust Fund money provided by private entitie…

NAC 353B.715 Review and modification of investment policies by Board. (NRS 353B.310, 353B.370) The Board will from time to time review the investment policies for the Program and modify those policies if it determines necessary. (Added to NAC by St. Treasurer by R185-01, eff. 4-5…

NAC 353B.720 Prohibition on contributor or designated beneficiary to direct investments of Program; exception. (NRS 353B.310) Except as permitted by 26 U.S.C. § 529 or any regulations, rulings, announcements or other guidance issued pursuant thereto, no contributor to or designat…

NAC 353B.725 Effect of joint decisions and interpretations by Board and Program Manager; claims and appeals by account owners; determination of Board on appeal. (NRS 353B.310) All joint decisions and interpretations by the Board and the Program Manager in connection with the oper…

NAC 353B.740 “Program” defined. (NRS 353B.335) As used in NAC 353B.740 to 353B.746, inclusive, unless the context otherwise requires, “Program” means the Nevada College Kick Start Program created by NRS 353B.335. (Added to NAC by Bd. of Trustees of College Savings Plans of Nev. b…

NAC 353B.741 Enrollment in Program; opt-in form for treatment of directory information of pupil as confidential. (NRS 353B.335) 1. Except as otherwise provided in subsection 2, the Board will automatically enroll a pupil who is enrolled in kindergarten at a public school in this …

NAC 353B.742 Account: Creation; credits; biennial review of adequacy of credits; direction of investment; review and recommendation of incentives for additional credits; transfer or sale prohibited. (NRS 353B.335) 1. The Board will: (a) Create an account for each pupil enrolled i…

NAC 353B.743 Duty of Office of State Treasurer to make available certain account information and to provide written notice and directions to designated beneficiary and parent or guardian after account creation. (NRS 353B.335) The Office of the State Treasurer shall: 1. Make infor…

NAC 353B.744 Application for access to account by parent or guardian. (NRS 353B.335) To access the account of a pupil created pursuant to NAC 353B.742, the parent or guardian of the pupil must apply for such access on a form prescribed by the Office of the State Treasurer. The ap…

NAC 353B.745 Closure of account. (NRS 353B.335) 1. The parent or guardian of a pupil who wishes to voluntarily close an account created pursuant to NAC 353B.742 must complete and submit to the Office of the State Treasurer the opt-out form prescribed by the Office of the State Tr…

NAC 353B.746 Distribution from account: Request; granting; recipient. (NRS 353B.335) 1. Upon receipt of a high school diploma, or its equivalent, a designated beneficiary who is enrolled at an eligible educational institution may request a distribution from the account created pu…

NAC 353B.750 Short title. (NRS 353B.820) The provisions of NAC 353B.750 to 353B.830, inclusive, may be cited as the Education Savings Account Regulations. (Added to NAC by St. Treasurer by R061-15, eff. 12-30-2015)—(Substituted in revision for NAC 385.5505)

NAC 353B.755 Purposes. (NRS 353B.820) 1. The purposes of NAC 353B.750 to 353B.830, inclusive, are to: (a) Award grants of money made available pursuant to NRS 353B.860 on behalf of children who qualify for such grants so that the parents of such children have choices concerning t…

NAC 353B.760 Definitions. (NRS 353B.820) As used in NAC 353B.750 to 353B.830, inclusive, unless the context otherwise requires, the words and terms defined in NAC 353B.765 and 353B.770 have the meanings ascribed to them in those sections. (Added to NAC by St. Treasurer by R061-15…

NAC 353B.765 “Agreement” defined. (NRS 353B.820, 353B.850) “Agreement” means a written agreement between a parent and the State Treasurer to establish an education savings account entered into pursuant to NRS 353B.850. (Added to NAC by St. Treasurer by R061-15, eff. 12-30-2015)—(…

NAC 353B.770 “School day” defined. (NRS 353B.820, 353B.850) “School day” means any day, including a partial day, during which a school offers instruction to pupils at the school. (Added to NAC by St. Treasurer by R061-15, eff. 12-30-2015)—(Substituted in revision for NAC 385.552)

NAC 353B.775 “Break in the school year” construed. (NRS 353B.820, 353B.850) For the purpose of carrying out the provisions of NRS 353B.850, the State Treasurer will construe the term “break in the school year” to mean 15 or more consecutive days that are not school days. (Added t…

NAC 353B.780 “Tuition” construed. (NRS 353B.820, 353B.870) For the purpose of carrying out the provisions of NRS 353B.700 to 353B.930, inclusive, the State Treasurer will construe the term “tuition” to include only the cost of enrolling a child in a school or program of distance …

NAC 353B.785 Application to establish account; open enrollment period; notification of approval or denial; requirements; request for waiver; exemptions. (NRS 353B.820, 353B.850) 1. A parent who wishes to establish an education savings account on behalf of his or her child must su…

NAC 353B.790 Agreement with State Treasurer; deposit of money into and payments from account; annual list provided to Department; inclusion of certain examinations on list. (NRS 353B.820, 353B.850, 353B.860, 353B.910) 1. If the State Treasurer approves an application submitted pu…

NAC 353B.795 Committee to Review Payments: Creation; members; duties. (NRS 353B.820, 353B.870) 1. There is hereby created the Committee to Review Payments consisting of seven members as follows: (a) The State Treasurer or his or her designee; (b) Two voting members appointed by t…

NAC 353B.800 Termination of agreement by parent. (NRS 353B.820, 353B.850) 1. The parent of a child on behalf of whom an education savings account has been established may terminate an agreement with the State Treasurer at any time by providing written notice by certified mail to …

NAC 353B.805 State Treasurer to freeze account if child no longer resides in State; proof required to remove freeze; termination of agreement and dissolution of account. (NRS 353B.820, 353B.850) If the State Treasurer reasonably believes that a child on behalf of whom an educatio…

NAC 353B.810 Audits of accounts; freeze of accounts found to have irregularities; notice of freeze; petition for reconsideration; determination. (NRS 353B.820, 353B.880) 1. Each calendar year, the State Treasurer will randomly select not fewer than 10 percent of the education sav…

NAC 353B.815 Quarterly list of terminated accounts; reversion of remaining money to State General Fund. (NRS 353B.820, 353B.850, 353B.860) 1. Each calendar quarter, the State Treasurer will provide to the Department a list of each child for whom an agreement pursuant to which an …

NAC 353B.820 Contract with financial management firm: Criteria; provision allowing termination; maintenance and management of accounts. (NRS 353B.820, 353B.880) 1. The State Treasurer will enter into a contract to manage education savings accounts with one or more financial manag…

NAC 353B.825 Application to become participating entity; proof of eligibility; notice of determination; investigation under certain circumstances. (NRS 353B.820, 353B.900) 1. To become a participating entity, an entity must submit an application to the State Treasurer on a form m…

NAC 353B.830 Additional requirements of certain participating entities. (NRS 353B.820, 353B.900) 1. If the State Treasurer reasonably expects that a participating entity will receive, from payments made from education savings accounts, an amount that exceeds $50,000 for a school …

NAC 353C.100 Request to offset debt; payment of debtor after notification of interception. (NRS 353C.110, 353C.190, 353C.195) 1. If an agency requests that the State Controller place a hold on payments to a person who owes a debt to the agency, the agency may, upon receiving noti…

NAC 353C.110 Action by State Controller upon receipt of request to offset debt. (NRS 353C.110, 353C.135, 353C.190) Except as otherwise provided in NAC 353C.140, not later than 5 working days after receiving a request to offset from an agency pursuant to NAC 353C.100, the State Co…

NAC 353C.120 Action by State Controller upon failure of debtor to request hearing. (NRS 353C.110, 353C.190, 353C.224) If the debtor fails to request a hearing within 10 days after the date of the notice sent pursuant to NAC 353C.110, the State Controller will: 1. Process the offs…

NAC 353C.130 Proration of amount due from debtor upon multiple requests to offset debt. (NRS 353C.110, 353C.190) If two or more agencies submit requests for an offset with regard to the same debtor, the amount transferred to each agency pursuant to NAC 353C.120 will be prorated b…

NAC 353C.140 Restrictions on offsetting of debt; debts owed by employees of State. (NRS 353C.110, 353C.190) 1. The State Controller will not offset any amount due a debtor pursuant to a program of public assistance or any other program for which the Division of Welfare and Suppor…

NAC 353C.150 Definitions. (NRS 353C.110, 353C.190) As used in NAC 353C.150 to 353C.340, inclusive, unless the context otherwise requires, the words and terms defined in NAC 353C.160, 353C.170 and 353C.175 have the meanings ascribed to them in those sections. (Added to NAC by St. …

NAC 353C.160 “Hearing” defined. (NRS 353C.110, 353C.190) “Hearing” means a hearing before the State Controller or a designee thereof concerning a requested offset pursuant to NAC 353C.100 to 353C.140, inclusive. (Added to NAC by St. Controller by R117-02, eff. 12-17-2002; A by R1…

NAC 353C.170 “Petitioner” defined. (NRS 353C.110, 353C.190) “Petitioner” means a person who requests a hearing. (Added to NAC by St. Controller by R117-02, eff. 12-17-2002)

NAC 353C.175 “Respondent” defined. (NRS 353C.110, 353C.190) “Respondent” means the agency that requested an offset pursuant to NAC 353C.100 to 353C.140, inclusive. (Added to NAC by St. Controller by R141-04, eff. 9-22-2004)

NAC 353C.190 Scope and construction of provisions; deviations from rules. (NRS 353C.110, 353C.190) 1. NAC 353C.150 to 353C.340, inclusive: (a) Govern the practice and procedure in a hearing. (b) Will be liberally construed to secure the just, speedy and economical determination o…

NAC 353C.200 Scope of hearing. (NRS 353C.110, 353C.190) The scope of a hearing excludes review of the final determination of the amount due an agency from the petitioner. (Added to NAC by St. Controller by R117-02, eff. 12-17-2002)

NAC 353C.210 Submission and receipt of pleadings. (NRS 353C.110, 353C.190) All pleadings, including, without limitation, complaints, petitions, answers, briefs, motions, affidavits and applications, must be addressed to the State Controller. All pleadings shall be deemed to be of…

NAC 353C.220 Testimony must be under oath. (NRS 353C.110, 353C.190) Oral evidence will be taken only upon oath or affirmation administered by the State Controller. Before testifying, a person must swear or affirm that the testimony he or she is about to give will be the truth, th…

NAC 353C.240 Transcripts. (NRS 353C.110, 353C.190) If the petitioner wishes to have a transcript of the hearing, he or she must furnish the reporter, pay for the transcript and deliver a copy of the transcript to the State Controller within 20 days after requesting a rehearing or…

NAC 353C.250 Conduct required. (NRS 353C.110, 353C.190) A person appearing in a hearing shall conform to the recognized standards of ethical and courteous conduct. (Added to NAC by St. Controller by R117-02, eff. 12-17-2002)

NAC 353C.260 Rights of petitioner and respondent. (NRS 353C.110, 353C.190) At a hearing, the petitioner and respondent may: 1. Call and examine witnesses. 2. Introduce relevant exhibits and evidence identified in their respective prehearing statements submitted pursuant to NAC 35…