Current with legislation from the 2023 Regular and Special Sessions signed by the Governor as of November 21, 2023.
Section 54.909 - Use of Fund Assets The assets of the program may only be used to:
(1) make distributions to designated beneficiaries;(2) pay the costs of program administration and operations;(3) make refunds for cancellations, excess contributions, liquidation under Section 54.908(d), and death, in accordance with a computation method determined by the board;(4) roll over funds to another ABLE account to the extent authorized by Section 529A, Internal Revenue Code; and(5) make distributions to the state as authorized by Section 529A, Internal Revenue Code.Added by Acts 2015, Texas Acts of the 84th Leg. - Regular Session, ch. 1213,Sec. 2, eff. 6/19/2015.