State administration of Trump account funds

Notwithstanding any law to the contrary and subject to the approval of the United States department of the treasury, the state may act as a nonbank custodian pursuant to 26 CFR § 1.408-2(e) for Trump account funds, subject to requirements in federal law. If the state receives the approval to act as a nonbank custodian pursuant to 26 CFR § 1.408-2(e), then a Trump account program may be established through a subsequent enactment of the general assembly.