Kan. Admin. Regs. § 3-4-1

Current through Register Vol. 43, No. 49, December 5, 2024

Section 3-4-1 - Definitions

In addition to the terms and definitions in K.S.A. 75-643 and K.S.A. 75-650 and amendments thereto, the following terms shall have the meanings specified in this regulation:

(a) "Account owner" means the account owner or joint account owners of a participant account.

(b) "Contribution" means any deposit made by an account owner to that account owner's participant account during a calendar year, except any deposit that is one of the following:

(1) A rollover from another account in the Kansas post-secondary education savings program;

(2) a rollover from another state's qualified tuition program as defined in internal revenue code section 529;

(3) a transfer from a Coverdell education savings account as defined in internal revenue code section 530; or

(4) a transfer of proceeds from a qualified U.S. savings bond as described in internal revenue code section 135(c)(2)(C).

(c) "Household" means a group of individuals who are related by birth, marriage, or adoption and who share a residence.

(d) "Participant" has the meaning specified in K.S.A. 75-650, and amendments thereto. Each participant shall be a beneficiary of a Kansas postsecondary education savings program account, as defined in K.S.A. 75-643 and amendments thereto.

(e) "Participant account" means the Kansas postsec-ondary education savings program account established by an account owner for the benefit of a participant who is enrolled in the matching grant program.

This regulation shall be effective on and after January 1, 2010.

Kan. Admin. Regs. § 3-4-1

Authorized by and implementing K.S.A. 2008 Supp. 75-650, as amended by L. 2009, ch. 113, sec. 1; effective, T-3-6-29-06, June 29, 2006; effective Oct. 27, 2006; amended July 6, 2007; amended Jan. 1, 2010.