1. Short title This Act may be cited as the Children’s Savings Accounts Offer Parents Plenty Of Reasons To Understand and Invest in Tuition Yearly Act or the CSA OPPORTUNITY Act . 2. Definitions In this Act: (1) Child’s savings account The term child’s savings account means a trust created or organized exclusively for the purpose of paying the qualified expenses of only an individual who, when the trust is created or organized, has not attained 18 years of age, if the written governing instrument creating the trust contains the following requirements: (A) The trustee is a federally insured financial institution, or a State insured financial institution if a federally insured financial institution is not available. (B) The assets of the trust will be invested in accordance with the direction of the individual or of a parent or guardian of the individual, after consultation with the entity providing the initial contribution to the trust or, if applicable, a matching or other contribution for the individual. (C) The assets of the trust will not be commingled with other property except in a common trust fund or common investment fund. (D) Any amount in the trust that is attributable to an account seed or matched deposit may be paid or distributed from the trust only for the purpose of paying qualified expenses of the individual. (2) Qualified expenses The term qualified expenses means, with respect to an individual, expenses that— (A) are incurred after the individual receives a secondary school diploma or its recognized equivalent; and (B) are— (i) postsecondary educational expenses (as defined in section 529 of the Internal Revenue Code of 1986) of the individual; (ii) for the purchase of a first home by the individual