Current with legislation from the 2023 Regular and Special Sessions signed by the Governor as of November 21, 2023.
Section 54.916 - Termination or Modification of Program(a) If the comptroller determines that the ABLE program is not financially feasible, the comptroller shall notify the governor and the legislature and recommend that the board not administer an ABLE program or that the program be modified or terminated. The program may be terminated only by the legislature.(b) If the comptroller determines that the ABLE program is not financially feasible, the board may adjust the terms of participation agreements as necessary to ensure the financial feasibility of the program.(c) If the legislature terminates the ABLE program, the balance of each ABLE account shall be paid to the participant, to the extent possible.Added by Acts 2015, Texas Acts of the 84th Leg. - Regular Session, ch. 1213,Sec. 2, eff. 6/19/2015.