SECTION 358.389. Achieving a Better Life Experience Program

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(a) The following words and terms, when used in this section, have the following meanings, unless the context clearly indicates otherwise.
(1) Achieving a Better Life Experience (ABLE) program--
(A) the ABLE Program authorized under Chapter 54, Subchapter J, of the Texas Education Code; or
(B) a qualified ABLE program of any state that meets the requirements of §529A of the Internal Revenue Code of 1986.
(2) ABLE account--an account established under an ABLE program.
(3) Designated beneficiary--an individual who is named as the beneficiary of an ABLE account established under an ABLE program.
(b) The Texas Health and Human Services Commission excludes from the calculation of countable income interest earned on an ABLE account and payments made from an ABLE account that are used for the designated beneficiary's expenses.

Source Note: The provisions of this §358.389 adopted to be effective November 20, 2016, 41 TexReg 9003

                    
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