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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 is not able to exercise |
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signature authority over an account or chooses to establish an |
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account but not exercise signature authority [of the account is a
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minor or has a custodian or other fiduciary appointed for the
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purpose of managing the minor's financial affairs], the parent, |
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legal guardian, [or custodian] or other fiduciary of the |
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beneficiary may serve as the participant if [that form of ownership
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is] permitted [or not prohibited] by Section 529A, Internal Revenue |
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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. |