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Treasurer Moore’s Jumpstart Savings Plan First Bill Introduced in House

Gailyn Markham by Gailyn Markham
Thursday, March 4, 2021 9:58 am

CHARLESTON, WV (LOOTPRESS) – State Treasurer Riley Moore today thanked leaders in the House of Delegates for making his Jumpstart Savings Plan the first bill introduced as part of the regular legislative session, and said he looks forward to working with lawmakers on its swift passage.

“I want to thank House Speaker Roger Hanshaw for taking the lead sponsoring this legislation and making it the first bill introduced this session, and also for the priority they’ve placed on running it in the House of Delegates,” Treasurer Moore said. “The Jumpstart Savings Plan is first-of-its-kind legislation that will help us build up our blue-collar workforce in West Virginia, and I’m glad my colleagues in the Legislature have embraced this innovative proposal.”

House Bill 2001, Relating Generally to Creating the West Virginia Jumpstart Savings Program, was the first bill introduced in the House of Delegates during the opening day of this year’s 60-day regular legislative session.

Jumpstart Savings Plan would function similarly to the state’s SMART529 College Savings Plan, but it would be used for those individuals who intend to enter a vocation or trade, ranging from professions like welders to hair stylists. It would provide a tax-advantaged savings account to help them cover the startup costs, equipment, certifications and licenses needed to enter vocational trades.

“While the current 529 plan allows people to buy books and pay for the cost of vocational tuition, it doesn’t let you purchase some of the other things you need to get started in the workforce,” Treasurer Moore said. “This bill will change that and remove the final barrier to entry standing in the way of people wanting to work in these critically needed trades.

“One of my first jobs in my career path was welding, and I learned firsthand how expensive it was to buy your own equipment and get certified to work in the field,” Treasurer Moore said. “As a state, we already invest in free community and technical college, but if we’re going to get people into these trades, we need to make sure they’re able to get to work. The Jumpstart Savings Plan will help them save money so they can cover these final costs of entering the workforce.”

In addition to Speaker Hanshaw, R-Clay, the bill is sponsored by Delegates Ben Queen, R-Harrison; Jason Barrett, R-Berkeley; Guy Ward, R-Marion; John Paul Hott, R-Grant; Zack Maynard, R-Lincoln; Jeffrey Pack, R-Raleigh; Clay Riley, R-Harrison; Larry Pack, R-Kanawha; Ruth Rowan, R-Hampshire; and Steve Westfall, R-Jackson.

House Bill 2001 has been referred to the House Education Committee, which is expected to take it up as early as Thursday.

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Gailyn Markham

Gailyn Markham

Gailyn Markham is a multimedia journalist for Lootpress. She joined the Lootpress staff in November of 2020. Gailyn graduated from Concord University in May of 2019 with a BA in English Journalism and a minor in Sociology. During her time there, she was a staff writer for the school’s newspaper, “The Concordian,” and received the 2019 Outstanding Journalist Award for her work. Before joining the Lootpress team, Gailyn interned for The Register-Herald and, upon completing her internship, was asked to continue working as a freelance writer. She freelanced for the newspaper for two years. A West Virginia native, Gailyn has always been devoted to telling the stories of the Mountain State. When she isn’t working, she enjoys taking advantage of West Virginia’s many outdoor adventures, reading, and renovating her home with her husband, Chris. For news tips or story ideas, email Gailyn at gailynmarkham@lootpress.com. You can also follow her on Facebook.

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