An Act To Amend the Laws Governing the Membership of the Advisory Committee on College Savings
Be it enacted by the People of the State of Maine as follows:
Sec. 1. 20-A MRSA §11484, sub-§1, as amended by PL 2011, c. 420, Pt. G, §§1 to 5 and affected by §9, is further amended to read:
1. Membership. The advisory committee consists of 7 8 members as follows:
A. The Treasurer of State, who serves as the chair of the advisory committee;
B-2. Two members appointed by the Governor from at large the public;
C. Two members appointed by the Governor with experience in and knowledge of institutional investment of funds;
E. One member appointed by the Governor with experience in and knowledge of institutional investment of funds; and
F. One member Two members appointed by the chair of the board who is a member are members of the board other than the Treasurer of State. ; and
G. One member appointed by the Governor with expertise in postsecondary education access issues.
The chair of the advisory committee must be appointed annually by the chair of the board.
Sec. 2. 20-A MRSA §11484, sub-§2, as repealed and replaced by PL 2001, c. 417, §20, is amended to read:
2. Terms. Members must be appointed for terms of 4 years. Members may be removed for cause. The member appointed by the Governor under subsection 1, paragraph B-1 must be appointed for an initial term of 3 years. The member appointed by the Governor under subsection 1, paragraph B-2 must be appointed for an initial term of 4 years.
SUMMARY
This bill changes the membership and chair appointment of the Advisory Committee on College Savings.