South Carolina § 11-5-400 Palmetto ABLE Savings Program created.

South Carolina Statutes

§ 11-5-400 — Palmetto ABLE Savings Program created.

South Carolina § 11-5-400

Title 11PUBLIC FINANCE

Ch. 5STATE TREASURER

This text of South Carolina § 11-5-400 (Palmetto ABLE Savings Program created.) is published on Counsel Stack Legal Research, covering South Carolina primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

S.C. Code Ann. § 11-5-400 (2026).

Text

There is established the "Palmetto ABLE Savings Program". The purpose of the Palmetto ABLE Savings Program is to authorize the establishment of savings accounts empowering individuals with a disability and their families to save private funds which can be used to provide for disability related expenses in a way that supplements, but does not supplant, benefits provided through private insurance, the Medicaid program under Title XIX of the Social Security Act, the supplemental security income program under Title XVI of the Social Security Act, the beneficiary's employment, and other sources; and to provide guidelines for the maintenance of these accounts.

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There is established the "Palmetto ABLE Savings Program". The purpose of the Palmetto ABLE Savings Program is to authorize the establishment of savings accounts empowering individuals with a disability and their families to save private funds which can be used to provide for disability related expenses in a way that supplements, but does not supplant, benefits provided through private insurance, the Medicaid program under Title XIX of the Social Security Act, the supplemental security income program under Title XVI of the Social Security Act, the beneficiary's employment, and other sources; and to provide guidelines for the maintenance of these accounts.

Legislative History

HISTORY: 2016 Act No. 165 (H.3768), SECTION 1, eff April 29, 2016; 2019 Act No. 88 (H.3986), SECTION 1, eff May 24, 2019. Editor's Note 2016 Act No. 165, SECTION 4, provides as follows: "SECTION 4. This act takes effect upon approval by the Governor and applies for tax years beginning after 2015." Effect of Amendment 2019 Act No. 88, SECTION 1, in the first and second sentences, substituted "Palmetto ABLE Savings Program" for "South Carolina ABLE Savings Program", and made a nonsubstantive change in the second sentence.