Michigan Compiled Laws
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 cited as the "Michigan achieving a better life experience (ABLE) program act".
History: 2015, Act 160, Eff. Jan. 26, 2016

Next >>

Structure Michigan Compiled Laws

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.

Section 206.982 - Definitions.

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.

Section 206.984 - Management Contract; Supervision.

Section 206.985 - Management Contract; Term of Years; Termination.

Section 206.986 - Contracts as Necessary and Proper.

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.

Section 206.988 - Changes in Account Owners or Designated Beneficiaries; Transfers.

Section 206.989 - Directing Investment of Contributions in Violation of Internal Revenue Code; Prohibition; Administrative Services; Use of Interest as Loan Security.

Section 206.990 - Maximum Account Balance Limit.

Section 206.991 - Submission of Certain Information to Internal Revenue Service, Department, and Account Owner.

Section 206.992 - Disclosure of Information to Account Owner and Other Person Requesting Information.

Section 206.993 - Construction and Interpretation of Act and Agreement.

Section 206.994 - State Obligation.

Section 206.995 - Annual Report.

Section 206.996 - Tax Exemption.

Section 206.997 - Consideration of Financial Circumstances for Purpose of Assistance Program; Effect of Able Savings Account.