|
Senate Bill 1664 |
Senate Author: Perry et al. |
|
Effective: 6-19-15 |
House Sponsor: Burkett |
Senate Bill 1664 amends the Education Code to establish the Texas Achieving a Better Life Experience (ABLE) Program administered by the Prepaid Higher Education Tuition Board within the office of the comptroller of public accounts, to encourage saving funds for the purpose of supporting individuals with disabilities in maintaining health, independence, and quality of life and to provide secure funding for qualified disability expenses on behalf of designated beneficiaries with disabilities that will supplement, but not supplant, benefits provided through other sources. The bill establishes the Texas ABLE savings plan account as a trust fund outside of the state treasury and sets out provisions for the administration of and participation in the program, outlining the limitations of and procedures for terminating or modifying the program, and establishing the ABLE program advisory committee. The bill includes the prepaid tuition unit undergraduate education program and the Texas Save and Match Program among the programs required to be administered by the board.