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

SB 753 redirects $2 million annually from the college savings program trust fund to the Department of Financial Institutions. It authorizes 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 (s. 224.50). The bill adds one full-time position to administer these deposits and provides specific funding increases: $446,900 for 2025-26 implementation and $317,900 for 2026-27 ongoing operations. All funds must cover qualified higher education expenses for the children in these accounts.