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A BILL TO BE ENTITLED
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AN ACT
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relating to eligible participants in the Texas Achieving a Better |
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Life Experience (ABLE) Program. |
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BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: |
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SECTION 1. Section 54.910(b), Education Code, is amended to |
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read as follows: |
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(b) If the designated beneficiary of the account is not able |
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to exercise signature authority over the account, or if a |
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designated beneficiary chooses to establish an account but not |
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exercise signature authority [a minor or has a custodian or other
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fiduciary appointed for the purpose of managing the minor's
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financial affairs], the parent, legal guardian, [or custodian] or |
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other fiduciary of the beneficiary may serve as the participant if |
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[that form of ownership is] permitted [or not prohibited] by |
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Section 529A, Internal Revenue Code. |
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SECTION 2. This Act takes effect immediately if it receives |
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a vote of two-thirds of all the members elected to each house, as |
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provided by Section 39, Article III, Texas Constitution. If this |
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Act does not receive the vote necessary for immediate effect, this |
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Act takes effect September 1, 2019. |