Authorizing the State Treasurer to coordinate SMART529 program with federal Trump accounts

HB 5543 Text

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House Bill 5543 History

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WEST VIRGINIA LEGISLATURE
2026
REGULAR SESSION
Introduced
House Bill 5543
By Delegates Holstein, Hanshaw (Mr. Speaker), Akers, Hornby, J. Cannon, Funkhouser, and Chiarelli
[Introduced February 16, 2026; referred to the Committee on Finance]
A BILL to amend the Code of West Virginia, 1931, as amended, by adding a new section, designated §12-2-7, relating to authorizing the State Treasurer to Coordinate SMART529 Program with federal Trump Accounts.
Be it enacted by the Legislature of West Virginia:

ARTICLE 2. PAYMENT AND DEPOSIT OF TAXES AND OTHER AMOUNTS DUE THE STATE OR ANY POLITICAL SUBDIVISION.

§12-2-7. Authorization of the State Treasurer to Coordinate SMART529 Program with federal Trump Accounts.

(a) The State Treasurer is authorized to coordinate educational savings strategies between the West Virginia SMART529 Program and federally established Trump Accounts.
(b) The State Treasurer may provide educational materials to account holders describing permissible uses, transfers, or rollovers as allowed by federal law.
(c) Nothing in this section authorizes the transfer of funds between programs except as permitted by federal law.
(d) For purposes of this section, a "Trump Account" shall have the meaning prescribed to it in 26 U.S. Code § 6434 entitled "Trump accounts contribution pilot program," as well as how the account is established under Section 530A of the Internal Revenue Code.
(e) The term “eligible child” means a qualifying child, as defined in section 152 of 26 U.S. Code § 6434, who:
(1) Is born after December 31, 2024, and before January 1, 2029,
(2) With respect to whom no prior election has been made under this section by such individual or any other individual, and
(3) Who is a United States citizen.

NOTE: The purpose of this bill is to authorize the State Treasurer to Coordinate SMART529 Program with federal Trump Accounts.
Strike-throughs indicate language that would be stricken from a heading or the present law and underscoring indicates new language that would be added.

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