(a) The Achieving a Better Life Experience Program (the “ABLE Program”), is established pursuant to the Achieving a Better Life Experience Program Act, Chapter 3 of Title 20 of the Arkansas Code, as amended, codified as Arkansas Code § 20-3-101 et seq. (the “act”).
(b) The program is designed to satisfy the requirements of Section 529A of the Internal Revenue Code of 1986, 26 U.S.C. § 1 et seq., as amended, and any rules, rulings, announcements, and other guidance issued thereunder (collectively referred to as “Section 529A”).
(c) In accordance with the Achieving a Better Life Experience Program Act, the Achieving a Better Life Experience Program Committee (the “committee”) has established the following rules governing the operation of the program.
(d) To the extent this part is interpreted to be inconsistent with provisions of Section 529A, the provisions of Section 529A shall prevail.
(e) The program may be affected by subsequent changes in federal and state legislation.
(f) The committee shall have the right to modify this part from time to time to comply with then current federal law and rules applicable to the program and for other purposes.
(g) Capitalized terms not defined herein shall have the meaning ascribed to them in the Achieving a Better Life Experience Program Act.