House Bill 1407
House Bill (H)
DIGEST
ABLE authority and board. Creates the achieving a better life experience (ABLE) authority (authority) and the ABLE board (board) of the authority. Requires the authority to establish a qualified ABLE program under which a person may make contributions for a taxable year for the benefit of an eligible individual to an ABLE account to meet the qualified disability expenses of the designated beneficiary in compliance with federal law. Sets forth duties and powers of the authority and the board. Establishes a general operating fund, endowment fund, and trust fund.
ABLE authority and board. Creates the achieving a better life experience (ABLE) authority (authority) and the ABLE board (board) of the authority. Requires the authority to establish a qualified ABLE program under which a person may make contributions for a taxable year for the benefit of an eligible individual to an ABLE account to meet the qualified disability expenses of the designated beneficiary in compliance with federal law. Sets forth duties and powers of the authority and the board. Establishes a general operating fund, endowment fund, and trust fund.
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