The leading voice for excellence in public finance

Advocacy

Policies & Resolutions

We serve as the leading advocate for responsible treasury programs and financial policies.

As part of its mission to be the nation’s leading advocate for responsible state treasury programs and related financial practices and policies, NAST furthers its federal relations and advocacy work through its headquarters in Washington, DC. The organization’s policy is guided by resolutions adopted by the membership.
globe on keyboard, Connect button

Policies and Advocacy Toolkits Element

NAST provides information and resources to make a difference on critical consumer policies and key legislation.  For a list of current policies, advocacy toolkits, and related resources, view the following policy advocacy areas:

Resolutions

View current and recent policy resolutions below, by category.

Achieving a Better Life Experience (ABLE)

Supporting Enhancements to the Stephen Beck Jr., Achieving a Better Life Experience (ABLE) Act (I.R.C. §529A)
Proposed Legislative and Regulatory Enhancements to ABLE Plans
Approved February 5, 2018.

Banking and Cash Management

Supporting State Prerogatives to Set Small-Dollar Loan Policy
Opposition to federal efforts that preempt states' abilities to set maximum interest rates and other policies on small-dollar lending activity.
Approved September 15, 2020.
Supporting efforts to improve Cybersecurity
Support for efforts, which may include cross-functional and multi-agency partnerships, at all levels of government and across the public and private sectors, to effectively mitigate the risks of cybersecurity threats, vulnerabilities, and the resulting impact on systems serving the public.
Approved in 2019.
State Bankruptcy
Opposition to proposals to provide states with bankruptcy protection.
Approved September 18, 2017. Reapproved September 15, 2020.
Cannabis Banking Resolution
Support for allowing the States with state legalized medical and recreational cannabis the ability to bring these activities into the safety and scrutiny of the National Banking System
Approved May 17, 2019.

College Savings/529

Supporting a Solution to Minimize Student Debt for the Next Generation
Support for promoting awareness of 529 College Savings Plans as a part of the solution to rising student loan debt.
Approved September 15, 2020.
Regarding the Treatment of Section 529 Qualified Tuition Plans Under the Higher Education Act
Support for revisions to the Higher Education Act to include language in the reauthorization of the Higher Education Act of 1965 to change the current federal financial aid methodology related to the treatment of Section 529 qualified tuition plans.
Approved in 2008. Amended and renewed in 2011, 2014, 2017 and 2020.
Preserving the current tax treatment of Section 529 Qualified Tuition Programs
Support for the continued tax treatment of 529 plans and opposition to efforts to repeal or limit that treatment.
Approved in 2013. Amended and renewed in 2016 and 2019
Inclusion of Contributions to 529 Plans in the Saver's Tax Credit
Support for the inclusion of Section 529 programs in the Saver’s Credit to Encourage more American Families to Save for the Rising Cost of Higher Education
Approved in 2007. Amended and renewed in 2010, 2013, 2016 and 2019.
Expand the use of 529 Plans to Include Student Loan Payments
Support for the use of 529 proceeds to make payments for student loans for postsecondary education opportunities.
Approved in 2019.
Expand the use of 529 Plans to include Apprenticeship Programs
Support for the expansion of eligible use of 529 proceeds to include postsecondary education programs including registered apprenticeship programs.
Approved in 2019.
Employer Incentives to Contribute to an Employee's 529 Plan
Provide Incentives and Direction to Employers to Encourage Employee Savings in a Section 529 College Savings Program
Approved in 2007. Amended and renewed in 2010, 2013, 2016 and 2019.
529 Plan Rollovers to IRA
To allow participants in a Section 529 College Savings Program the additional flexibility to rollover excess funds from a 529 Plan to an IRA
Approved in 2013. Amended and renewed in 2016 and 2019.
State Tax Policy and Other Benefits between States for Section 529 Qualified Tuition Programs
A Resolution Supporting States' Efforts to Develop Tax and other Incentives to Promote Saving for Postsecondary Education
Approved in 2006. Renewed in 2009, 2012, 2015 and 2018.
Distribution Period for 529 Plans
To Support Legislation or Policy that would clarify for 529 Plan Participants the period of time by which to take Distributions for Qualified Higher Education Expenses
Approved in 2012. Renewed in 2015 and 2018.

Cyber Security

Supporting efforts to improve Cybersecurity
Support for efforts, which may include cross-functional and multi-agency partnerships, at all levels of government and across the public and private sectors, to effectively mitigate the risks of cybersecurity threats, vulnerabilities, and the resulting impact on systems serving the public.
Approved in 2019.
Expressing NAST Support for Legislation, such as, S.536, the “Cybersecurity Disclosure Act of 2017”, Related to Corporate Cybersecurity
Supporting the “Cybersecurity Disclosure Act of 2017” (S.536) (or substantially similar bills in subsequent Congresses) that will help provide institutional investors access to information about corporate cybersecurity competencies and risks.
March 15, 2018

Financial Education

Proclaiming NAST Support for Financial Literacy Graduation Requirements for High School Students
Approved in 2019.

Infrastructure

Guiding Principles for a Prosperous Path Forward with New National Infrastructure Investment
A resolution outlining NAST's guiding principles relating to infrastructure investment and federal programs.
Approved September 15, 2020.

Pensions and Retirement

Supporting Policies for Comprehensive Stress Testing and Risk Reporting for Public Pensions
Support for states to perform routine and transparent risk reporting for their public retirement systems.
Approved December 15, 2020.
Supporting the Investment Adviser Alignment Act
To promote enhanced transparency, alignment and governance in the private equity asset class for the benefit of state pension and retirement systems.
Approved December 15, 2020.
Supporting Policies to Increase Fee Disclosure and Standardize Reporting of Private Equity Investments
A Resolution proposing strategies that allow public funds to collect and reflect the actual cost of investing in private equity.
Approved in 2015. Amended and renewed in 2016 and 2019.
Expressing that NAST Does Not Support Legislation, such as, H.R.4015, the “Corporate Governance Reform and Transparency Act of 2017”, Related to the Relationship Between Institutional Investors and Proxy Advisory Firms
Approved on March 15, 2018.
Principles and Best Practices for Framing a Bipartisan Position on Retirement Security Models
2018

Public Finance

State Treasurers on the Municipal Securities Rulemaking Board
Approved in 2004. Amended and renewed in 2007, 2010, 2013, 2016 and 2019.
Outlining Critical Issues Related to the Municipal Securities Market and Positions of the National Association of State Treasurers
Approved in 2007. Amended and renewed in 2010, 2013, 2016 and 2019.
Opposing Amendment or Repeal of the Tower Amendment
Approved in 2007. Amended and renewed in 2010, 2013, 2016 and 2019.
Preserving, Enhancing and Restoring the Tax-Exempt Status of Municipal Bonds
Opposing federal legislative and regulatory measures to repeal the exemption of municipal bond interest from Federal and applicable state income taxation and to curtail the use and attractiveness of tax-exempt bonds.
Approved on September 15, 2020. Previously approved September 18, 2017.
Supporting the Classification of Investment Grade Municipal Securities as High Quality Liquid Assets
Approved on September 12, 2016.

Unclaimed Property

Supporting Uniform Law Commission in its Presentation of the Uniform Unclaimed Property Act and Opposing the Anti-Consumer Proposed Model Act of the ABA Subcommittee
Urging the ABA to approve RUUPA and strongly opposes the anti-consumer proposal of the ABA Subcommittee.
2018
Preserving the Right of Owners to Recover Unclaimed Property from States in Perpetuity
Opposing legislative and other measures to limit the period of time in which an owner can recover unclaimed property transferred to the custody of a state.
Approved in 2019.
Supporting the Importance of Ensuring that Unclaimed Property Laws Concerning Unclaimed Property Death Benefits Due Under Life Insurance Policies Adequately Protect Consumers
Supporting the amendment or enactment of unclaimed property laws regarding unclaimed death benefits due under life insurance policies that are consistent with NAUPA’s recommendations to the ULC.
Approved on July 30, 2018 by Beth Pearce. Approved on July 28, 2019 by Dennis Johnston.