loading…
loading…
(a) The Treasurer shall, in consultation with the board, design and disseminate information for parents, Indian custodians, and legal guardians of children and youth who are potentially eligible for the HOPE Trust Account Program to facilitate their enrollment in the program and the transfer of funds.
(b) The information disseminated pursuant to this section shall include, but not be limited to, all of the following:
(1) The mechanics of how appropriations are made to the account and how to track the balance of the account.
(2) The process and timeline for withdrawing the funds from a HOPE trust account.
(3) The process and timeline for transferring the funds to an ABLE account, as defined in Section 4875, an account opened under the CalSavers Retirement Savings Program pursuant to Title 21 (commencing with Section 100000) of the Government Code, or an account opened under the California Kids Investment and Development Savings Program pursuant to Article 19.5 (commencing with Section 69996) of Chapter 2 of Part 42 of Division 5 of Title 3 of the Education Code.
(4) How to obtain additional information on the program.
(c) The information disseminated pursuant to this section shall include a method for the parent, Indian custodian, or legal guardian of an eligible child or an eligible youth to acknowledge that they have read all of the disclosures and understand their content.
(d) The information disseminated pursuant to this section with the disclosure form shall be made available to parents, Indian custodians, or legal guardians of eligible children and to eligible youth by the program and supplied to all parents, Indian custodians, or legal guardians of eligible children and to eligible youth gaining access to their HOPE trust account.