Texas Education Code

§ 54.906 — TREATMENT OF ASSETS

ED § 54.906Title 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)The assets of the ABLE program shall at all times be preserved, invested, and spent only for the purposes provided by this subchapter and in accordance with the participation agreements entered into under this subchapter.

(b)Except as provided by Section 529A, Internal Revenue Code, the state does not have a property right in the assets of the ABLE program.

Legislative history

Added by Acts 2015, 84th Leg., R.S., Ch. 1213 (S.B. 1664), Sec. 2, eff. June 19, 2015.