In a visit to Mountain Home this week, State Treasurer Dennis Milligan told KTLO, Classic Hits 101.7 and The Boot News the state’s treasury is in great shape.
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Treasurer Milligan says these accomplishments have been made despite what he described as very, very, very low interest rates.
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Milligan is the first republican to serve as the state’s treasurer since Reconstruction. He came to the position following a campaign promise to bring transparency to the Treasurer’s Office. It was a timely commitment following former State Treasurer Martha Shoffner being sentenced to 30 months in prison for extortion and bribery.
Milligan says information about the Treasurer’s Office is now easily accessible.
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Milligan says the Treasurer’s Office operates with 33 employees.
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Milligan’s visit to Mountain Home came on the heels of action by the legislature to expand the state’s 529 college savings program.
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Prior to the recent legislative action, the 529 plan allowed families to withdraw their investments tax-free as long as they were spent on higher education expenses. Arkansas law now mirrors the new federal legislation allowing families to withdraw money for private elementary and high school costs up to $10,000 annually from their plans.
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