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What's new with SEED?Policy Developments. Illinois Governor Rod Blagojevich signed into law the Illinois Children’s Savings Accounts Act (HB 1662) on August 23. The legislation creates a task force to review and make recommendations about children's savings account program options in Illinois. The task force will develop a written report to be presented to the Governor and the Illinois General assembly by November 1, 2008. The Illinois Asset Building Group—co-chaired by the Heartland Institute and by SEED community and state policy partner Sargent Shriver National Center for Poverty Law—was instrumental in crafting the bill and building support in the legislature. The bill passed both houses of the legislature unanimously earlier this year. Click here to read HB 1662. The Oklahoma Kids’ College Savings Campaign, an initiative led by SEED state policy partner, CAPTC, has developed an updated fact sheet and article about its efforts to enact a matched college savings program to help low- and moderate-income families save for college. The campaign is pushing for implementation of the Oklahoma College Savings Task Force’s recommendations for public deposits in Oklahoma 529 College Savings plans for children in low- and moderate-income families, and will seek the introduction of legislation in the 2008 session. Click here to read the updated fact sheet. Click here to read the article. Events. The SEED Initiative will hold its semi-annual state policy meeting at the Chase Park Plaza Hotel in St. Louis, MO, on October 19. The meeting will run from 9:00 a.m. to 4:00 p.m. While the meeting is designed for SEED state policy partners, other advocates for children’s savings policy who are interested in attending are invited to do so. SEED has a limited amount of funding available to defray travel costs for non-partners. Any available funds will be allocated on a first-come, first-served basis. If you are not a SEED partner but are interested in attending the SEED state policy meeting, please contact Kevin Keeley at kkeeley@cfed.org. The Aspen Institute’s Initiative on Financial Security (IFS), a national partner in the SEED Initiative, released a report on children’s savings accounts, “The Case for Child Accounts,” at a Capitol Hill briefing on July 31. Senator Christopher Dodd (D-CT) sponsored the event. The briefing featured a presentation on the “retail model” of accounts (which was presented at the last SEED state policy meeting in Puerto Rico in April) and a discussion with Congressional staff, policy experts, leaders from the financial services industry, and advocacy groups. In the retail model, financial institutions handle most aspects of opening and administering accounts. Among the presenters were: Lisa Mensah, executive director of IFS; Pamela Perun of IFS; John Tippets of the American Airlines Federal Credit Union; John Thompson of H&R Block; Bill Bynum of the Enterprise Corporation of the Delta and Hope Community Credit Union; Peter Morris of the National Congress of American Indians’ Policy Research Center; and Mary Laraia of LaSalle Bank. Click here to read “The Case for Child Accounts.” ***** |
State Begins Investigation Into Savings Accounts for All Illinois Children Help for Former Foster Children Key Moves To Help Boost College Aid Clinton, Smith introduce ‘New Savers Act’ |
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This bulletin is designed primarily for CFED's Partners in the SEED Initiative; however, other policymakers, advocates and practitioners may also find it useful. Please feel free to share it either by forwarding this e-mail or by sending us suggested additions to our mailing list. We welcome your feedback and suggestions. |
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