Michigan Compiled Laws
Chapter 206 - Income Tax Act of 1967
Act 160 of 2015 - Michigan Achieving a Better Life Experience (Able) Program Act (206.981 - 206.997)

Section 206.981 - Short Title. - Sec. 1. This act shall be known and may be...

Section 206.982 - Definitions. - Sec. 2. As used in this act: (a) "ABLE" means...

Section 206.983 - Michigan Able Savings Program; Establishment; Program Manager; Purposes, Powers, and Duties of State Treasurer or Designee; Selection of Program Managers; Proposals; Factors; Duties of Treasurer and Program Manager; Contract. - Sec. 3. (1) The Michigan ABLE savings program is established...

Section 206.984 - Management Contract; Supervision. - Sec. 4. The treasurer shall be responsible for the ongoing...

Section 206.985 - Management Contract; Term of Years; Termination. - Sec. 5. (1) A management contract shall be for a...

Section 206.986 - Contracts as Necessary and Proper. - Sec. 6. The treasurer may enter into contracts that it...

Section 206.987 - Able Savings Accounts; Establishment; Opening of Account by Individual or Designated Representative; Agreement; Form; Contents; Contributions; Exemption From Creditor Process; Distributions; Separate Accounting. - Sec. 7. (1) Beginning January 1, 2016, ABLE savings accounts...

Section 206.988 - Changes in Account Owners or Designated Beneficiaries; Transfers. - Sec. 8. (1) Changes in account owners or designated beneficiaries...

Section 206.989 - Directing Investment of Contributions in Violation of Internal Revenue Code; Prohibition; Administrative Services; Use of Interest as Loan Security. - Sec. 9. (1) An account owner shall not, directly or...

Section 206.990 - Maximum Account Balance Limit. - Sec. 10. (1) The maximum account balance limit for an...

Section 206.991 - Submission of Certain Information to Internal Revenue Service, Department, and Account Owner. - Sec. 11. (1) In accordance with section 529A(d) of the...

Section 206.992 - Disclosure of Information to Account Owner and Other Person Requesting Information. - Sec. 12. Each program manager shall disclose the following information...

Section 206.993 - Construction and Interpretation of Act and Agreement. - Sec. 13. This act and any agreement under this act...

Section 206.994 - State Obligation. - Sec. 14. (1) This act does not create and shall...

Section 206.995 - Annual Report. - Sec. 15. Each program manager shall file an annual report...

Section 206.996 - Tax Exemption. - Sec. 16. (1) Contributions to and interest earned on an...

Section 206.997 - Consideration of Financial Circumstances for Purpose of Assistance Program; Effect of Able Savings Account. - Sec. 17. (1) Notwithstanding any other provision of law regarding...