1 Tex. Admin. Code § 358.356 - Tuition Savings Programs
(a) The
following words and terms, when used in this section, have the following
meanings, unless the context clearly indicates otherwise.
(1) Tuition savings program--
(A) a prepaid tuition program or higher
education savings plan authorized under Chapter 54, Subchapter G, H, or I of
the Texas Education Code; or
(B) a
qualified tuition program of any state that meets the requirements of §529
of the Internal Revenue Service Code of 1986.
(2) Beneficiary--A designated individual
whose qualified higher education expenses are expected to be paid from a
tuition savings program.
(b) The Texas Health and Human Services
Commission excludes funds used to establish a tuition savings program and
payments made from or interest earned on a tuition savings program, if the
tuition savings program was established:
(1)
before the beneficiary's 21st birthday; and
(2) by the beneficiary's parent, stepparent,
spouse, grandparent, brother, sister, uncle, or aunt, whether related by whole
blood, half blood, or adoption.
(c) The resource exclusion described in
subsection (b) of this section does not apply:
(1) if a withdrawal from the tuition savings
program is made for any purpose other than paying qualified educational
expenses of the beneficiary; or
(2)
if the tuition savings program is cancelled.
Notes
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