Texas Education Code

§ 54.904 — POWERS AND DUTIES OF BOARD

ED § 54.904Title 3. HIGHER EDUCATION · Part A. HIGHER EDUCATION IN GENERAL · Ch. 54. TUITION AND FEES · Art. J. TEXAS ACHIEVING A BETTER LIFE EXPERIENCE (ABLE) PROGRAM

Statute text

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(a)To establish and administer the ABLE program, the board shall:

(1)develop and implement the program;

(2)adopt rules and establish policies and procedures to implement this subchapter to:

(A)permit the program to qualify as a qualified ABLE program under Section 529A, Internal Revenue Code;

(B)make changes to the program as necessary for the participants in the program to obtain or maintain federal income tax benefits or treatment provided by Section 529A, Internal Revenue Code, and exemptions under federal securities laws; and

(C)make changes to the program as necessary to ensure the program's compliance with all other applicable laws and regulations;

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Legislative history

Acts 2017, 85th Leg., R.S., Ch. 296 (S.B. 377), Sec. 2, eff. May 29, 2017.