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Searching 2017-2018 Session

The Vermont Statutes Online

Title 16 : Education

Chapter 087 : GRANTS, SCHOLARSHIP, AND EDUCATION LOAN PROGRAMS

Subchapter 008 : VERMONT UNIVERSAL CHILDREN'S HIGHER EDUCATION SAVINGS ACCOUNT PROGRAM

(Cite as: 16 V.S.A. § 2880c)
  • § 2880c. Initial deposits to the Program Fund

    (a) Each year, the Corporation shall deposit $250.00 into the Program Fund for each eligible child born that year, beginning on or after January 1, 2016.

    (b) In addition, if the eligible child has a family income of less than 250 percent of the federal poverty level at the time the deposit under subsection (a) of this section is made, the Corporation shall make an additional deposit into the Program Fund for the child that is equal to the deposit made under subsection (a).

    (c) Notwithstanding subsections (a) and (b) of this section, if the available funds in a given calendar year are insufficient to provide for the maximum deposits under this section, the Corporation shall prorate the deposits accordingly. (Added 2015, No. 45, § 2.)