qualified ABLE program
Defined in 1 place of the United States Code.
The term "qualified ABLE program" means a program established and maintained by a State, or agency or instrumentality thereof—
(A) under which a person may make contributions for a taxable year, for the benefit of an individual who is an eligible individual for such taxable year, to an ABLE account which is established for the purpose of meeting the qualified disability expenses of the designated beneficiary of the account,
(B) which limits a designated beneficiary to 1 ABLE account for purposes of this section, and
(C) which meets the other requirements of this section.
Source
- 2015–present26 U.S.C. § 529AInternal Revenue Code · Qualified ABLE programs · for purposes of this section
The term "qualified ABLE program" means a program established and maintained by a State, or agency or instrumentality thereof—
(A) under which a person may make contributions for a taxable year, for the benefit of an individual who is an eligible individual for such taxable year, to an ABLE account which is established for the purpose of meeting the qualified disability expenses of the designated beneficiary of the account,
(B) which limits a designated beneficiary to 1 ABLE account for purposes of this section,
(C) which allows for the establishment of an ABLE account only for a designated beneficiary who is a resident of such State or a resident of a contracting State, and
(D) which meets the other requirements of this section.
Source
- 2014–201526 U.S.C. § 529AInternal Revenue Code · Qualified ABLE programs · for purposes of this section