§ 12-11-14-9 — Creation of ABLE authority; body corporate and politic; authority to establish qualified ABLE program; tax exemption; contracting; public agency

Indiana § 12-11-14-9

• Jurisdiction: Indiana
• Art. 11: SERVICES FOR INDIVIDUALS WITH
• Ch. 14: Achieving a Better Life Experience (ABLE) Program

Text

(a) The achieving a better life experience
(ABLE) authority is created. The authority is a body corporate and
politic.
(b) The authority:
(1) is not an agency of the state; and
(2) is an instrumentality of the state performing essential
governmental functions.
(c) The authority may establish a qualified ABLE program.
(d) Because the management and operation of a qualified ABLE
program and all funds and ABLE accounts established under this
chapter constitute the performance of an essential public function, the
following are exempt from taxation by the state and by any political
subdivision of the state:
(1) The authority's management and operations.
(2) The authority's property and assets.
(3) All property and assets held by or for the authority except
individual ABLE accounts.
(4) The investment income and earnings (whether interest, gains,
or dividends) on:
(A) the authority's property and assets; and
(B) all property and assets held by or for the authority;
including all funds and accounts established under this article
except individual ABLE accounts.
(e) The authority may contract with public or private entities or
persons for the provision of all or any portion of the services the board
considers necessary for the management and operation of the authority,
including the qualified ABLE program and all funds and accounts of
the authority.
(f) The authority is a public agency for purposes of IC 5-14-1.5 and
IC 5-14-3. However, the data, information, and records (including
medical records) relating to designated beneficiaries of and individual
contributors to an ABLE account, including any records that reveal
personally identifiable information about such individuals, are
confidential for purposes of IC 5-14-3-4(a), are excepted from IC 5-14-3, and may not be disclosed by the authority, unless access to the
records is specifically required by a state or federal statute or is ordered
by a court under the rules of discovery. The board is a governing body
for purposes of IC 5-14-1.5.

Legislative History

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