§ 23-3.1-226. Policies for Promotion and Disclosure of Program Information
The authority shall design a policy related to the promotion of the prepaid expense program and a policy related to the disclosure of program-related information to purchasers or qualified beneficiaries in a manner consistent with this part 2 and consistent with the requirements of section 529 of the internal revenue code in order to require […]
§ 23-3.1-311. Achieving a Better Life Experience (Able) Savings Program – Establishment – Authority – Powers – Duties
The authority shall establish and implement the achieving a better life experience (ABLE) savings program in Colorado that complies with the federal ABLE act and section 529A of the internal revenue code, or any successor section, and regulations implementing that section to allow for an account owner to save for qualified disability expenses without disqualifying […]
§ 23-3.1-301. Legislative Declaration
The general assembly hereby finds, determines, and declares that a choice of education opportunities will benefit the residents of the state of Colorado and that the establishment of a college savings program will enhance the availability of postsecondary educational opportunities for residents. It is the intent of the general assembly to achieve this purpose through […]
§ 23-3.1-302. Definitions
As used in this part 3, unless the context otherwise requires: “ABLE” means achieving a better life experience, as used in the federal “Stephen Beck, Jr., Achieving a Better Life Experience Act of 2014”, division B, Pub.L. 113-295, as that act amends the federal “Internal Revenue Code of 1986”, as amended, to add section 529A […]
§ 23-3.1-303. Department – Purpose – Powers – Duties
(Deleted by amendment, L. 2000, p. 1288 , § 16, effective May 26, 2000.) Source: L. 99: Entire part added, p. 456, § 1, effective July 1. L. 2000: Entire part amended, p. 1288, § 16, effective May 26.
§ 23-3.1-304. Authority – Purpose – Powers – Duties
In addition to any other powers or duties specifically granted to the authority in part 2 of this article 3.1 and in this part 3 the authority shall, as applicable to the respective program: Develop and implement the college savings program and the ABLE savings program in a manner consistent with this part 3 and […]
§ 23-3.1-305. Financial Institutions – Managers – Purpose – Selection – Requirements – Contracts
The authority shall implement the program through the use of one or more financial institutions to act as managers. Under the program, potential account owners may establish accounts through the program at the financial institution. The authority shall solicit proposals from financial institutions to act as the recipients of contributions and managers. The authority shall […]
§ 23-3.1-306. Accounts – Contributions – Withdrawals – Penalties – Statements
The program shall be operated through the use of accounts. A person may open an account by satisfying each of the following requirements: Completing an application in the form prescribed by the financial institution and approved by the authority, and in accordance with the provisions of section 529 or 529A of the internal revenue code, […]
§ 23-3.1-306.5. College Kickstarter Account Program – Funding – Administration – Financial Literacy Course – Rules – Legislative Declaration – Definitions
The general assembly hereby finds and declares that: Empirical evidence gathered over the last several years documents the potential of college savings accounts to expand educational and economic opportunity, especially for low- and moderate-income families; College savings accounts improve early child development and future financial capability because: Children who receive a college savings account at […]
§ 23-3.1-307. Limitations
Nothing in this part 3 shall be construed to: Give any designated beneficiary any rights or legal interest with respect to an account unless the designated beneficiary is the account owner; Guarantee that a designated beneficiary will be admitted to an education institution or be allowed to continue enrollment at or graduate from an education […]