South Dakota Codified Laws 28-21-2. Determination of eligibility or amount of state or local benefits for ABLE savingsprogram beneficiary
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When determining the eligibility or amount of benefits to be received by a designated beneficiary of an ABLE savings program, a state or local agency may not consider a contribution to an account in a qualified ABLE savings program, earnings on the contribution, or a distribution from the account for qualified disability expenses as defined in section 529A(e)(5) of the Internal Revenue Code, 26 U.S.C. § 529A(e)(5), as of January 1, 2016.
Terms Used In South Dakota Codified Laws 28-21-2
- Beneficiary: A person who is entitled to receive the benefits or proceeds of a will, trust, insurance policy, retirement plan, annuity, or other contract. Source: OCC
Source: SL 2016, ch 149, § 2.