The assets of the program may only be used to:
- (1) make distributions to designated beneficiaries;
- (2) pay the costs of program administration and operations;
- (3) make refunds for cancellations, excess contributions, liquidation under Section 54.908(d), and death, in accordance with a computation method determined by the board;
- (4) roll over funds to another ABLE account to the extent authorized by Section 529A, Internal Revenue Code; and
- (5) make distributions to the state as authorized by Section 529A, Internal Revenue Code.
Added by Acts 2015, 84th Leg., R.S., Ch. 1213 (S.B. 1664), Sec. 2, eff. June 19, 2015.