§ 17:3087 — ABLE account funds; treatment under certain federal assistance programs

Louisiana § 17:3087

• Jurisdiction: Louisiana
• Title 17: Credit Union Law

Text

§3087. ABLE account funds; treatment under certain federal assistance programs
In accordance with Section 103 of Title I of Division B of Public Law 113-295, for
the purpose of determining eligibility to receive, or the amount of, any assistance or benefit
authorized to be provided to or for the benefit of a designated beneficiary by a means-tested
federal assistance program, the following amounts shall be disregarded for such purpose with
respect to any period during which the beneficiary maintains, makes contributions to, or
receives distributions from an ABLE account:
(1) Any amount, including earnings thereon, in the ABLE account of the designated
beneficiary.
(2) Any contributions to the ABLE account of the designated beneficiary.
(3) Any distribution from the ABLE account for a qualified disability expense.

Legislative History

Acts 2016, No. 604, §1.