1 Tex. Admin. Code § 358.389 - Achieving a Better Life Experience Program
(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.
Notes
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