Relating to: funding for the department of financial institutions from the college savings program trust fund and making an appropriation. (FE)

AB 761 redirects $2 million annually from the college savings program trust fund to the Department of Financial Institutions. It directs the department to deposit funds into college savings accounts for children born or adopted in the state, residing there, and designated as beneficiaries under existing law. These deposits cover qualified higher education expenses for the children. The bill also appropriates additional funds ($446,900 for 2025-26, $317,900 for 2026-27) to administer this program and fund an additional full-time position.