Effective: October 12, 2016
Latest Legislation: House Bill 483 - 131st General Assembly
As used in sections 113.50 to 113.56 of the Revised Code:
(A) "ABLE account" means an individual account opened in accordance with the program or a similar ABLE account program established by another state in accordance with section 529A of the Internal Revenue Code.
(B) "Account owner" means a designated beneficiary or any other person authorized to be the owner of an ABLE account under federal law.
(C) "Designated beneficiary" means an eligible individual whose qualified disability expenses may be paid from an ABLE account.
(D) "Eligible individual," "member of the family," "qualified disability expenses," and "qualified ABLE program" have the same meanings as in section 529A of the Internal Revenue Code.
(E) "Financial organization" means an insurance company, bank, or other financial institution or a broker-dealer registered with the securities and exchange commission.
(F) "Management contract" means a contract between the treasurer of state and a program manager under division (B) of section 113.52 of the Revised Code.
(G) "Maximum account value" means the dollar amount calculated by the Ohio tuition trust authority pursuant to sections 3334.01 to 3334.21 of the Revised Code as the maximum amount that may be necessary to pay for the qualified higher education expenses of a beneficiary under those sections, consistent with the maximum contributions permitted under section 529 of the Internal Revenue Code.
(H) "Program" means the ABLE account program established under sections 113.50 to 113.56 of the Revised Code.
(I) "Program account" means an individual account opened in accordance with the program.
(J) "Program manager" means a financial organization selected by the treasurer of state to be a depository and manager of the program under section 113.52 of the Revised Code.
(K) "Secretary" means the secretary of the treasury of the United States.
(L) "Internal Revenue Code" has the same meaning as in section 5747.01 of the Revised Code.
Structure Ohio Revised Code
Chapter 113 | Treasurer of State
Section 113.01 | Election - Term.
Section 113.03 | Additional Bond.
Section 113.04 | Appointing Employees - Bond.
Section 113.041 | Employee Criminal Records Check.
Section 113.05 | The State Treasury - Custodial Funds - Commingling of Assets.
Section 113.051 | Duties of Treasurer.
Section 113.06 | Receiving Offices for Expedient Collection of Taxes and Fees.
Section 113.061 | Administrative Rules.
Section 113.08 | Payment and Procedures for Payment to Treasurer.
Section 113.09 | Creation of General Revenue Fund.
Section 113.10 | Contingent Fund.
Section 113.11 | Payments From State Treasury or Custodial Fund.
Section 113.12 | Warrants Paid on Presentation.
Section 113.13 | Statement of Balances Upon Request.
Section 113.14 | Audit of State Treasury and Custodial Funds.
Section 113.15 | Special Auditors - Powers.
Section 113.16 | Report and Record of Audit.
Section 113.17 | Governor May Suspend Treasurer of State.
Section 113.18 | Treasurer of State Restored to Office if Not Indicted or if Acquitted.
Section 113.19 | Audit of Outgoing Treasurer of State.
Section 113.20 | Cost of Administering Custodial Funds - Administrative Fund.
Section 113.21 | Treasury Education Fund.
Section 113.41 | Database of Real Property Under State Control.
Section 113.43 | County Investment Advisory Committee Reports on State Website.
Section 113.51 | Implementation and Administration of Able Account Program.
Section 113.52 | Depositories and Managers.
Section 113.53 | Application to Open Acccount.
Section 113.55 | Ohio Able Savings Program Trust Fund.
Section 113.56 | Stable Account Program Advisory Board.
Section 113.60 | Pay for Success Contracting Program.
Section 113.62 | State Pay for Success Contract Fund.
Section 113.70 | Definitions for State and Local Government Expenditure Database.
Section 113.71 | State and Local Government Expenditure Database.
Section 113.72 | Expenditure Information Required for Database.
Section 113.73 | Required Features of Expenditure Database.
Section 113.74 | Public Comment.
Section 113.75 | Confidential and Non-Public Records.
Section 113.76 | State Entity Web Site Links to Database.
Section 113.77 | Political Subdivisions and State Retirement Systems Expenditure Information.