SB 1074 - Schmitt, Eric
Modifies provisions relating to the ABLE act
Bill Details
Sponsor
LR Number
6574S.02C
Title
SCS SB 1074
House Handler
N/A
Journal Page
N/A
Effective Date
August 28, 2016
Committee
Current Status
Informal Calendar S Bills for Perfection--SB 1074-Schmitt, with SCS
Quick Links
Amendments
No amendments available
CURRENT BILL SUMMARY
SCS/SB 1074 - This act provides that the assets of the ABLE program shall at all times be preserved, invested, expended, and distributed only for the purposes set forth in current law as well as Section 529A of the Internal Revenue Code. Current law provides that no property rights in ABLE assets shall exist in favor of the state. This act removes that provision.
This act is identical to a provision in SCS/HB 2125 (2016).
SCOTT SVAGERA