Arkansas Code Title 20, Subtitle 1, Chapter 3 - Achieving a Better Life Experience Program Act

• § 20-3-101 - Title.
  This chapter shall be known and may be cited as the "Achieving a Better Life Experience Program Act".
• § 20-3-102 - Purpose.
  It is the intent and purpose of this chapter to create and establish the Achieving a Better Life Experience Program as provided under the...
• § 20-3-103 - Definitions.
  As used in this chapter: (1) "ABLE account" means an account: (A) Established by an eligible individual; (B) Owned by the eligible individual; and...
• § 20-3-104 - Creation of the Achieving a Better Life Experience Program Trust.
  (a) The Achieving a Better Life Experience Program Trust is created.(b) The cotrustees of the trust shall be the Director of the Department of...
• § 20-3-105 - Administration -- Authority -- Powers.
  (a) This chapter shall be administered by the Achieving a Better Life Experience Program Committee, which shall be composed of: (1) The Director of...
• § 20-3-106 - Rules.
  Rules adopted under this chapter shall ensure that: (1) (A) A rollover from an ABLE account does not apply to an amount paid or...
• § 20-3-107 - Investment Direction.
  Except as permitted under the Achieving a Better Life Experience Program as provided under the Tax Increase Prevention Act of 2014, Pub. L. No....
• § 20-3-108 - Accounts.
  (a) (1) An account owner or contributor may establish an account by making an initial contribution to the Achieving a Better Life Experience Program,...
• § 20-3-109 - Naming of Designated Beneficiary and Transfers of Accounts.
  (a) An account owner shall have the right to name the designated beneficiary of an account and at any time to change the designated...
• § 20-3-110 - Prohibitions.
  (a) Total contributions to the account established on behalf of a particular designated beneficiary in excess of those reasonably necessary to meet the designated...
• § 20-3-111 - Funds Exempt From Tax.
  (a) Except as otherwise indicated in this chapter, interest, dividends, and capital gains from funds invested in the Achieving a Better Life Experience Program...
• § 20-3-112 - Limitation on Liability.
  Neither the Achieving a Better Life Experience Program, the Achieving a Better Life Experience Program Committee and each of its members, nor the state...
• § 20-3-113 - Liberal Construction.
  This chapter shall be liberally construed to comply with the requirements of the Achieving a Better Life Experience Program as provided under the Tax...

Last modified: November 15, 2016