As used in this section and sections 3-39k to 3-39r, inclusive:
(1) “Achieving a better life experience account” or “ABLE account” means an account established and maintained pursuant to sections 3-39k to 3-39q, inclusive, for the purposes of paying the qualified disability expenses related to the blindness or disability of a designated beneficiary.
(2) “Deposit” means a deposit, payment, contribution, gift or other transfer of funds.
(3) “Depositor” means any person making a deposit into an ABLE account pursuant to a participation agreement.
(4) “Designated beneficiary” means any eligible individual who has established an ABLE account under a qualified ABLE program and is the owner of such ABLE account.
(5) “Disability certification” means, with respect to an individual, a certification to the satisfaction of the Secretary of the Treasury of the United States by the individual or the parent or guardian of the individual that (A) certifies that (i) the individual has a medically determinable physical or mental impairment, that results in marked and severe functional limitations, and that can be expected to result in death or that has lasted or can be expected to last for a continuous period of not less than twelve months, or is blind within the meaning of Section 1614(a)(2) of the Social Security Act, and (ii) such impairment or blindness occurred before the date on which the individual attained the age of twenty-six, and (B) includes a copy of the individual's diagnosis relating to the individual's relevant impairment or blindness that is signed by a physician who is licensed pursuant to chapter 370 or, to the extent permitted by federal law, (i) an advanced practice registered nurse who is licensed pursuant to chapter 378, (ii) a physician assistant who is licensed pursuant to chapter 370, or (iii) if the individual's impairment is blindness, an optometrist licensed pursuant to chapter 380.
(6) “Eligible individual” means an individual who is entitled to benefits during a taxable year based on blindness or disability under Title II or XVI of the Social Security Act, and such blindness or disability occurred before the date on which the individual attained the age of twenty-six, provided a disability certification with respect to such individual is filed with the State Treasurer for such taxable year.
(7) “Federal ABLE Act” means the federal ABLE Act of 2014, P.L. 113-295, as amended from time to time.
(8) “Participation agreement” means an agreement between the trust established pursuant to section 3-39k and depositors that provides for participation in an ABLE account for the benefit of a designated beneficiary.
(9) “Qualified disability expenses” means any expenses related to an eligible individual's blindness or disability that are made for the benefit of an eligible individual who is the designated beneficiary, including the following expenses: Education, housing, transportation, employment training and support, assistive technology and personal support services, health, prevention and wellness, financial management and administrative services, legal fees, expenses for oversight and monitoring, funeral and burial expenses, and other expenses that are approved by the Secretary of the Treasury of the United States under regulations adopted by the Secretary pursuant to the federal ABLE Act.
(P.A. 15-80, S. 1; P.A. 16-39, S. 2; P.A. 17-124, S. 1; P.A. 21-196, S. 2.)
History: P.A. 16-39 amended Subdiv. (6)(B) by adding provisions re diagnosis signed by advanced practice registered nurse or optometrist; P.A. 17-124 deleted Subdiv. (2) re “contracting state”, redesignated Subdivs. (3) to (10) as Subdivs. (2) to (9) and redefined “designated beneficiary” in redesignated Subdiv. (4), effective July 5, 2017; P.A. 21-196 amended Subdiv. (5) by adding reference to licensed physician assistant.
Structure Connecticut General Statutes
Title 3 - State Elective Officers
Section 3-11. - Salary and bond of Treasurer. Office of Treasurer full time.
Section 3-11a. - Authority to enter into contractual agreements.
Section 3-12. - Deputy Treasurer.
Section 3-12a. - Appointment of officers and investment-related personnel.
Section 3-13. - Assistant treasurer for debt management. Additional assistant treasurer.
Section 3-13c. - Trust funds defined.
Section 3-13e. - Investment of trust funds in loans to mortgage lenders.
Section 3-13f. - State investment policy in relation to corporations doing business in South Africa.
Section 3-13g. - Divestment of state funds invested in companies doing business in Iran.
Section 3-13i. - Contracts for services related to investment of trust funds.
Section 3-13j. - Third party fees in investments by Treasurer or quasi-public agencies.
Section 3-14. - Management and sales of state property.
Section 3-14a. - Treasurer to administer trusts for counties.
Section 3-15. - Sites for beacon lights and other buildings.
Section 3-16. - Temporary borrowing. Approval by Governor. Notice to committees of General Assembly.
Section 3-17. - Collection of state revenue. Issuance of bonds.
Section 3-17a. - Payments to the state from certain financing litigation settlements.
Section 3-18. - Use of facsimile of state seal on bonds.
Section 3-19. - Place of payment of state bonds.
Section 3-20. - Short title: State General Obligation Bond Procedure Act. State Bond Commission.
Section 3-20a. - Redemption or repurchase of bonds. Additional security.
Section 3-20b. - Trusteeships.
Section 3-20c. - Certain appropriations not to lapse.
Section 3-20d. - Requirements for issuance of tax-exempt obligations by agents of state government.
Section 3-20g. - Economic recovery notes to finance deficit in fiscal year 2009.
Section 3-20i. - Disposition of bond proceeds.
Section 3-20j. - Credit revenue bonds.
Section 3-21. - Bond limitation. Debt certification. Bond issuance limitation. Allotment limitation.
Section 3-21e. - Divestment of state funds invested in companies doing business in Sudan.
Section 3-22. - Bond Retirement Fund.
Section 3-22a. - Definitions: College savings bonds.
Section 3-22b. - Designation of bonds as college savings bonds.
Section 3-22c. - Negotiated sales of college savings bonds.
Section 3-22d. - Terms of issuance of college savings bonds.
Section 3-22e. - Connecticut Higher Education Trust Advisory Committee.
Section 3-22f. - Connecticut Higher Education Trust: Definitions.
Section 3-22g. - Connecticut Higher Education Trust: Established.
Section 3-22h. - Trust authority of the Treasurer.
Section 3-22i. - Investment of funds in the trust.
Section 3-22k. - Trust financial report.
Section 3-22l. - Exemption from taxation.
Section 3-22m. - State pledge for purposes of the trust.
Section 3-22p. - Investments in trust not considered an asset for certain programs and purposes.
Section 3-22u. - CHET Baby Scholars fund and program.
Section 3-23. - Destruction of matured bonds.
Section 3-23a. - Replacement of mutilated, destroyed, stolen or lost state obligations.
Section 3-24. - Deposit of funds.
Section 3-24a. - Tax-Exempt Proceeds Fund created.
Section 3-24b. - Deposit of money in Tax-Exempt Proceeds Fund.
Section 3-24c. - Investment in Tax-Exempt Proceeds Fund by other state funds.
Section 3-24d. - Sale of investments in Tax-Exempt Proceeds Fund to other state instrumentalities.
Section 3-24e. - Investment of Tax-Exempt Proceeds Fund by the Treasurer.
Section 3-24g. - Borrowing for purposes of the Tax-Exempt Proceeds Fund. Issuance of notes.
Section 3-24h. - Borrowing from the Tax-Exempt Proceeds Fund for state capital projects.
Section 3-24k. - Investments with community banks and community credit unions.
Section 3-26. - Civil list funds; limitation.
Section 3-27. - Investment committee.
Section 3-27b. - Sale of certificates to state agencies.
Section 3-27c. - Use of fund for student loans.
Section 3-27d. - Investment of funds of the Short Term Investment Fund.
Section 3-27f. - Investment by Treasurer in participation certificates. Legal investments.
Section 3-27i. - Bonds and notes as legal investments.
Section 3-28. - Investment of sinking fund.
Section 3-28a. - Medium-Term Investment Fund.
Section 3-31a. - Authorized investments.
Section 3-31b. - Combined investment funds. Sale of participation units. Costs charged to income.
Section 3-32. - Acceptance of gifts and bequests by Treasurer.
Section 3-33. - Acceptance of land for military purposes.
Section 3-34. - Vote on stock of state bank owned by state or School Fund.
Section 3-35. - No execution against Treasurer.
Section 3-36. - Repayment of Town Deposit Fund.
Section 3-36a. - Connecticut Baby Bond Trust: Definitions.
Section 3-36b. - Connecticut Baby Bond Trust: Established.
Section 3-36c. - Treasurer's trust authority.
Section 3-36d. - Investment of funds in the trust.
Section 3-36e. - Exemption from taxation.
Section 3-36f. - Moneys invested in trust not considered assets or income.
Section 3-36g. - Accounting for designated beneficiary. Claim for accounting.
Section 3-36h. - Transfer to trust upon birth of designated beneficiary.
Section 3-37. - Annual report of Treasurer. Monthly report of Treasurer.
Section 3-39a. - Funds to be paid state recorded as receivables.
Section 3-39b. - Interest earnings on funds.
Section 3-39c. - Interest earnings credited to certain funds and accounts.
Section 3-39j. - Achieving a better life experience program: Definitions.
Section 3-39k. - Achieving a better life experience program: Establishment. Trust. Report.
Section 3-39l. - Trust authority of the State Treasurer.
Section 3-39m. - Investment of funds in the trust.
Section 3-39n. - Exemption from certain securities laws.
Section 3-39o. - Exemption from taxation.
Section 3-39p. - State pledge for purposes of the trust.
Section 3-39q. - Compliance with requirements for trust to constitute a qualified ABLE program.
Section 3-40. - Treasurer to have care and management.
Section 3-41. - School Fund interest.
Section 3-42. - Rate of interest on loans from the School Fund and Agricultural College Fund.
Section 3-43. - Loan expenses. Foreclosure costs.
Section 3-44. - Interest on overdue loans.
Section 3-45. - Loans and appraisals.
Section 3-46. - Reappraisal of securities.
Section 3-47. - Sale of real estate.
Section 3-48. - National bank stock; Treasurer attorney for state.
Section 3-49. - Debtor accounts.
Section 3-50. - Agents to give certified copies of bonds.
Section 3-51. - Annual schedule of assets.
Section 3-52. - Moneys paid on account.
Section 3-53. - Exhibition of claims against estates.
Section 3-54. - Mortgagor's affidavit of title.
Section 3-55. - Waste on mortgaged premises.
Section 3-55i. - Mashantucket Pequot and Mohegan Fund.
Section 3-55j. - Payments from fund.
Section 3-55k. - Municipality defined.
Section 3-57. - Escheat of property unclaimed or unused for seven years.
Section 3-57a. - Property held by banking or financial organization presumed abandoned, when.
Section 3-58. - Sale of escheated property.
Section 3-58a. - Funds held by insurance company presumed abandoned, when.
Section 3-59. - Petition in case of interest in escheated property. Appeal.
Section 3-59b. - Ownership interest in business association presumed abandoned, when.
Section 3-59c. - Duties of holder of abandoned interests in business associations.
Section 3-60. - Examination of witnesses.
Section 3-60b. - Wages, salary or other compensation for personal services presumed abandoned, when.
Section 3-60c. - Deposit, refund or other sum owed by utility presumed abandoned, when.
Section 3-60d. - Value of gift certificate presumed abandoned, when.
Section 3-61. - Action against custodian of property.
Section 3-61a. - Property held by fiduciary presumed abandoned, when.
Section 3-62. - Application of provisions.
Section 3-62a. - Property held by public body or officer presumed abandoned, when.
Section 3-62b. - Property held by federal court or agency presumed abandoned, when.
Section 3-62c. - Proceedings to recover property.
Section 3-62d. - Action to obtain decree of escheat.
Section 3-62e. - Treasurer to pay costs and deposit funds into General Fund.
Section 3-62f. - Claim for return of escheated property.
Section 3-62g. - Liability of state.
Section 3-63. - Notice of inactive bank accounts. Index. Interest. Escheat.
Section 3-63a. - Property in decedent's estate presumed abandoned, when.
Section 3-64. - Escheating of trust funds held by the Treasurer.
Section 3-64a. - Property presumed abandoned generally.
Section 3-65. - Conversion of escheated property into cash.
Section 3-65a. - Duties of holder of abandoned property.
Section 3-65c. - Charge, fee or penalty for inactivity prohibited.
Section 3-66. - Escheat of unclaimed life insurance company funds. Definitions.
Section 3-66a. - Maintenance of searchable list and provision of notice by Treasurer.
Section 3-66b. - Unclaimed intangible property. Conditions raising presumption of abandonment.
Section 3-66c. - Recovery of funds or property.
Section 3-67. - When funds escheat.
Section 3-68. - Report of unclaimed funds.
Section 3-68a. - Sale of property by Treasurer.
Section 3-69a. - Deposit of funds in General Fund and Citizens' Election Fund.
Section 3-70. - Payment to Treasurer.
Section 3-70a. - Claims for abandoned property.
Section 3-71. - State to assume custody and liability.
Section 3-73a. - Excepted property.
Section 3-73b. - Effect of expiration of limitation period or period specified in contract.
Section 3-74. - Payment of claim.
Section 3-74a. - Regulations. Agreements and enforcement with other states.
Section 3-76a. - Short title: Municipal Bond Refunding Trust Act.
Section 3-76b. - Statement of purpose and policy.
Section 3-76e. - Effect of filing of bond determination. Limits on Treasurer's contracts.
Section 3-76f. - Terms of special obligation bonds determined by State Treasurer.
Section 3-76g. - Optional provisions to secure payment of special obligation bonds.
Section 3-76h. - Additional powers of State Treasurer.
Section 3-76i. - Form of special obligation bonds.
Section 3-76j. - Special obligation bonds not general obligations of the state.
Section 3-76k. - Special obligation bonds as legal investments: Tax exemptions.
Section 3-76m. - Municipal Refunding Trust Fund. Required reserve. General Fund appropriations.
Section 3-76n. - Validity of pledges.
Section 3-76o. - State pledges to holders of special obligation bonds.
Section 3-76p. - Principal amounts of special obligation bonds not part of state indebtedness.
Section 3-76q. - Default by state, remedies of municipalities, holders.
Section 3-76s. - Defaults in principal or interest payments on municipal refunding bonds; remedies.
Section 3-76t. - Transfer of interest subsidy under section 10-292m.