Both Colorado resident and nonresident account owners and designated beneficiaries are eligible to participate in and benefit from the college savings program. Only Colorado resident account owners and beneficiaries, and account owners and beneficiaries who are residents in any state which contracts with the authority under section 23-3.1-311, are eligible to participate in and benefit from the ABLE savings program, unless otherwise provided under section 529A of the internal revenue code.
Source: L. 99: Entire part added, p. 463, § 1, effective July 1. L. 2000: Entire part amended, p. 1296, § 16, effective May 26. L. 2015: Entire section amended, (HB 15-1359), ch. 269, p. 1054, § 12, effective June 3.
Structure Colorado Code
Title 23 - Postsecondary Education
Article 3.1 - Student Loan Program
§ 23-3.1-301. Legislative Declaration
§ 23-3.1-303. Department - Purpose - Powers - Duties
§ 23-3.1-304. Authority - Purpose - Powers - Duties
§ 23-3.1-305. Financial Institutions - Managers - Purpose - Selection - Requirements - Contracts
§ 23-3.1-306. Accounts - Contributions - Withdrawals - Penalties - Statements
§ 23-3.1-307.1. Personal Liability
§ 23-3.1-307.3. Proceeds as Trust Funds
§ 23-3.1-307.4. Claims of Creditors - Exemption
§ 23-3.1-307.5. Confidentiality of Records
§ 23-3.1-307.9. Policies for Promotion and Disclosure of Program Information