HOUSE OF REPRESENTATIVES

152nd GENERAL ASSEMBLY

HOUSE CONCURRENT RESOLUTION NO. 47

RECOGNIZING MAY 29TH AS “DE529 DAY”.

WHEREAS, as the State of Delaware is committed to competing in the global economy, our citizens must recognize the challenge ahead and provide their children with the education and skills that will enable them to compete successfully; and

WHEREAS, the rising cost of higher education has out-paced inflation and the growth in family income, all of which pose a serious threat to the ability of our citizens to ensure their children’s access to post-secondary education; and

WHEREAS, the amount of student loan debt continues to rise to historic levels, leaving college graduates with the ever-increasing burden of paying for their education long after its completion; and

WHEREAS, recent research shows that 65% of parents are stressed over having enough money to help their children pay for post-secondary education and only 37% of American families have a dedicated college savings account; and

WHEREAS, it is in the State’s interest that access to post-secondary education for its children be maintained and that encouraging parents to save for their children’s education promotes that public purpose; and

WHEREAS, it is in the best interest of our state's employers to ensure a well-educated workforce; and

WHEREAS, government, at both the federal and state levels, needs to encourage savings versus consumption and assisting rather than hindering parents, grandparents, friends, and businesses, as they seek to support the education of children, grandchildren, and others in need of help to meet their higher education goals; and

WHEREAS, the Office of the State Treasurer sponsors an education savings plan as a Section 529 Qualified State Tuition and Savings Plans (QSTP) through duly enacted laws passed by the Delaware General Assembly, including state tax incentives as for its citizens as a recognition of the value of higher education opportunity.

NOW, THEREFORE:

BE IT RESOLVED by the House of Representatives of the 152nd General Assembly of the State of Delaware, the Senate concurring therein, that the State of Delaware hereby proclaim May 29, 2023, as ‘DE529 Day’. In doing so, the State of Delaware urges families and employers throughout the State to recognize the benefit of attaining higher education and urge the citizens of Delaware to begin saving for their children’s education.

SYNOPSIS

This resolution recognizes May 29th as ‘DE529 Day’.