Sec. 1. As used in this chapter, “ABLE account” refers to an achieving a better life experience (ABLE) account established by an eligible individual that:

(1) is maintained under a qualified ABLE program; and

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Terms Used In Indiana Code 12-11-14-1

  • eligible individual: means an individual who during a taxable year:

    Indiana Code 12-11-14-6

  • qualified ABLE program: refers to the achieving a better life experience (ABLE) program established under this chapter under which a person may make contributions for a taxable year for the benefit of an eligible individual to an ABLE account to meet the qualified disability expenses of the designated beneficiary in compliance with Section 529A of the Internal Revenue Code. See Indiana Code 12-11-14-7
(2) meets the requirements of Section 529A of the Internal Revenue Code.

As added by P.L.12-2016, SEC.8.

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