529 PLANS

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Texas eyeing new prepaid tuition plan

(May 15, 2007) - The Texas House and Senate have passed legislation (HB 3900) establishing the Texas Tomorrow Fund II, a new prepaid tuition plan that would begin on September 1, 2008. Unlike the existing Texas Tomorrow Fund, which is no longer accepting enrollments, the Texas Tomorrow Fund II would be a "unit-type" prepaid plan under which participants purchase and redeem units with each unit worth 1% of tuition and fees. The units would be offered in three levels, Type I, Type II, and Type III targeting different categories of institutions.

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