§ 30-9-1. Short Title
This chapter shall be known and may be cited as the “Georgia Achieving a Better Life Experience (ABLE) Act.” History. Code 1981, § 30-9-1 , enacted by Ga. L. 2016, p. 588, § 1/HB 768.
§ 30-9-10. Comprehensive Investment Plan
The board shall have authority to establish a comprehensive investment plan for the purposes of this chapter and to invest any funds of the trust fund through the state treasurer. The state treasurer shall invest the trust fund moneys pursuant to an investment policy adopted by the board. Notwithstanding any state law to the contrary, […]
§ 30-9-11. Amounts in Able Account Not Considered in Determining Eligibility for Certain Public Assistance
Notwithstanding any other provision of state or local law or regulation that requires consideration of the financial circumstances of an applicant for local, state, or federal public assistance or a benefit provided under that law, the agency or entity making the determination of eligibility for such assistance or benefit may not consider the amount in […]
§ 30-9-12. Annual Reports
If the board creates the Georgia ABLE Program Trust Fund pursuant to Code Section 30-9-8, the board shall prepare or cause to be prepared an annual report setting forth in appropriate detail an accounting of the Georgia Able Trust Fund at the close of each fiscal year. Such report shall be submitted to the Governor, […]
§ 30-9-13. Provision of Public Information and Outreach
The Department of Community Health, the Department of Behavioral Health and Developmental Disabilities, the Department of Human Services, the Georgia Vocational Rehabilitation Agency, and the Department of Education shall assist, cooperate, and coordinate with the corporation in the provision of public information and outreach for a board approved Qualified ABLE Program. History. Code 1981, § […]
§ 30-9-14. Death of Designated Beneficiary of Able Trust Fund
Upon the death of a designated beneficiary of a Georgia ABLE Trust Fund account, the Department of Community Health and the Medicaid program for another state may file a claim with the Georgia ABLE Program for the total amount of medical assistance provided for the designated beneficiary under the Medicaid program after the date of […]
§ 30-9-15. Assignment of Able Account Prohibited
An ABLE account may not be assigned for the benefit of creditors, used as security or collateral for any loan, or otherwise subject to alienation, sale, transfer, assignment, pledge, encumbrance, or charge. Except as provided in Code Section 30-9-14, moneys paid into or out of an ABLE account, and the income and assets of such […]
§ 30-9-16. Records Not Open to Inspection by the General Public; Limited Access
The provisions of Article 4 of Chapter 18 of Title 50 notwithstanding, the following records, or portions thereof, shall not constitute public records and shall not be open to inspection by the general public: Completed participation applications, executed participation agreements, and ABLE account numbers; All wiring or automated clearing-house transfer of funds instructions regarding participation […]
§ 30-9-2. Legislative Intent
It is the intent of the legislature to authorize the establishment of a qualified ABLE program in this state to encourage and assist the saving of private funds in tax-exempt accounts in order to pay for the qualified disability expenses of eligible individuals with disabilities. It is also the intent of the legislature that any […]
§ 30-9-3. Definitions
As used in this chapter, the term: “ABLE account” means an account established and owned by an eligible individual pursuant to this chapter. “Board” means the board of directors of the Georgia ABLE Program Corporation. “Corporation” means the Georgia ABLE Program Corporation created pursuant to Code Section 30-9-4. “Designated beneficiary” means the eligible individual who […]
§ 30-9-4. Georgia Able Program Corporation Created; Board of Directors and Its Membership; Powers, Duties, and Administration
There is created the Georgia ABLE Program Corporation, as a body corporate and politic and an instrumentality of the state, for purposes of establishing and administering the Georgia ABLE Program. The corporation shall be governed by a board of directors consisting of the commissioner of behavioral health and developmental disabilities; the commissioner of community health; […]
§ 30-9-5. Georgia Able Program Established for Participants to Make Contributions to Accounts for Purpose of Meeting Qualified Disability Expenses of Designated Beneficiary
The board shall be authorized to establish a Georgia ABLE Program under which a person may make contributions for a taxable year, for the benefit of an eligible individual, to an ABLE account established for the purpose of meeting the qualified disability expenses of the designated beneficiary of the ABLE account. Any such program shall […]
§ 30-9-6. Duties of Board With Respect to Operating a Georgia Able Program
If the board establishes a Georgia ABLE Program pursuant to Code Section 30-9-5, the board shall: Establish, implement, and maintain the program as a qualified ABLE program under Section 529A of the Internal Revenue Code; Provide for the marketing of the program and develop and provide information to eligible individuals and their families necessary to […]
§ 30-9-7. Terms and Conditions of Participation Agreements
Each participation agreement entered into pursuant to this chapter shall include the following terms and conditions: The participation agreement shall not constitute a debt or obligation of the state; Participation in the Georgia ABLE Program does not guarantee that sufficient funds will be available to cover all qualified disability expenses for any designated beneficiary and […]
§ 30-9-8. Able Program Trust Fund Created; Administration of Funds
The board shall be authorized to create the Georgia ABLE Program Trust Fund. The trust fund shall be administered by the state treasurer. The state treasurer shall credit to the trust fund all amounts transferred to such fund. The trust fund shall consist of money remitted in accordance with participation agreements and shall receive and […]
§ 30-9-9. Taxation by State Pursuant to Code Section 48-7-27; Exempt From Taxation by Political Subdivisions
The trust fund and ABLE account property and income shall be subject to taxation by the state only as provided by paragraph (10.1) of subsection (b) of Code Section 48-7-27 and shall not be subject to taxation by any of the state’s political subdivisions. History. Code 1981, § 30-9-9 , enacted by Ga. L. 2016, […]