1. (a) Contributions to an account may not exceed the amount necessary to provide for the qualified higher education expenses of the account beneficiary.
2. (b) The authority shall adopt rules under IC 4-22-2 to determine the maximum account balance applicable to all accounts of account beneficiaries with the same expected year of enrollment.

As added by P.L.25-1999, SEC.13. Amended by P.L.135-2002, SEC.25; P.L.93-2024, SEC.153.