California Welfare and Institutions Code CHAPTER 15 - Qualified ABLE Program

  • Section 4875.
    For purposes of this chapter:(a) “ABLE account” or “account” means the account established and owned by a designated beneficiary pursuant to this chapter for the purpose...
  • Section 4876.
    There is hereby created the California ABLE Act Board that consists of the Treasurer, the Director of Finance, the Controller, the Director of Developmental Services,...
  • Section 4877.
    (a) There is hereby created an instrumentality of the State of California to be known as the California ABLE Program Trust.(b) The purposes, powers, and duties of...
  • Section 4878.
    (a) The board shall segregate moneys received by the ABLE program trust into two funds, which shall be identified as the program fund and the administrative...
  • Section 4879.
    (a) Under the program, a person may make contributions for a taxable year, for the benefit of an individual who is an eligible individual for that...
  • Section 4880.
    (a) Notwithstanding any other law, moneys in, contributions to, and any distribution for qualified disability expenses from, an ABLE account, not to exceed one hundred thousand...
  • Section 4880.a.
    (a) Notwithstanding any other law, moneys in, contributions to, and any distribution for qualified disability expenses from, an ABLE account, not to exceed one hundred thousand...
  • Section 4881.
    (a) The board shall provide an annual listing of distributions to individuals with respect to an interest in an ABLE account to the Franchise Tax Board...
  • Section 4882.
    (a) The board shall adopt regulations as it deems necessary to implement this chapter consistent with the federal Internal Revenue Code and regulations issued pursuant to...
  • Section 4883.
    This act shall be construed liberally in order to effectuate its legislative intent. The purposes of this act and all of its provisions with respect...
  • Section 4884.
    The board shall market this program to residents of the United States to the extent funds are available to do so.(Amended by Stats. 2017, Ch....
  • Section 4885.
    (a) (1) Notwithstanding any other state law, and only to the extent permitted under federal law, all amounts in the designated beneficiary’s ABLE account, upon the death...

Last modified: October 22, 2018