1. (1) A Purchaser must file an application for the Matching contribution on a form as prescribed by the Board. The application must include the following information:

   1. (a) The name and address of the Beneficiary;
   2. (b) The name and address of the Purchaser;
   3. (c) The relationship of the Purchaser to the Beneficiary;
   4. (d) The sex and date of birth of the Beneficiary;
   5. (e) The Purchaser’s Household income;
   6. (f) Authorization from the Purchaser for the Board to verify with the Eligible college savings program that all the requirements set forth in these rules have been met for purposes of qualifying for the Matching contribution; and
   7. (g) Such other information as the Board may require.
2. (2) The application must be filed with the Board during the applicable Qualifying period and will be processed on a first come, first serve basis based on the amount of funds appropriated by the General Assembly.

3. (3) In addition to the application requirements contained in paragraphs (1) and (2) of this rule, a Purchaser who is applying to participate in the Matching grant incentive program to receive the Matching contribution shall authorize the Board to obtain and confirm certain income eligibility data and provide the Board with either of the following for the period of time annually determined by the Board, not to exceed the five (5) years immediately preceding the Qualifying period:

   1. (a) A copy of the federal income tax returns for the Purchaser and for each individual residing in the Purchaser’s Household who is required to file an income tax return; or

   2. (b) Information that would allow the Board to verify that the Purchaser is receiving or has received benefits through one (1) or more of the following programs, including, but not limited to:

      1. 1. Temporary Assistance for Needy Families (TANF);
      2. 2. State Medicaid;
      3. 3. Supplemental Nutrition Assistance Program (SNAP); or
      4. 4. Any such similar program or programs approved by the Board demonstrating that the Purchaser meets the income limits and standards established by the Board.

   3. (c) The Purchaser shall also provide the Board with the following:

      1. 1. Authorizations executed by the Purchaser and the members of the Purchaser’s Household allowing the Board to verify the federal adjusted gross income for the Purchaser and all individuals residing in that Household; and
      2. 2. Any such other documentation requested by the Board.
4. (4) Subsequent to a Purchaser’s initial application to participate in the Matching grant incentive program, and for each subsequent Qualifying period, the Purchaser shall reapply to participate in the Matching grant incentive program by submitting an application and providing the information requested in paragraph (3) of this rule to the Board to ensure the Purchaser’s continued eligibility to participate in this program. In the event that the Purchaser becomes ineligible to continue participating in the Matching grant incentive program and to continue receiving the Matching contribution for any Beneficiary accounts, the Purchaser shall be able to continue making contributions to the Purchaser’s § 529 college savings account but will not receive the Matching contribution for that year or any other subsequent year that the Purchaser does not qualify.

Authority: Chapter 359 of the 2013 Public Acts codified in T.C.A. §§ 49-7-805, 49-7-805(4), 49-7- 805(16), 49-7-808(d), 65-5-113, and 65-5-113(c). Administrative History: Original rule filed October 1, 2010; effective March 31, 2011. Amendments filed April 11, 2014; effective September 28, 2014. Amendments filed February 13, 2025; effective May 14, 2025.