By: Perry, Zaffirini S.B. No. 1184
A BILL TO BE ENTITLED
AN ACT
relating to eligible participants in the Texas Achieving a Better
Life Experience (ABLE) Program.
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS:
SECTION 1. Section 54.910(b), Education Code, is amended to
read as follows:
(b) If the designated beneficiary of the account is not able
to exercise signature authority over the account, or if a
designated beneficiary chooses to establish an account but not
exercise signature authority [a minor or has a custodian or other
fiduciary appointed for the purpose of managing the minor's
financial affairs], the parent, legal guardian, [or custodian] or
other fiduciary of the beneficiary may serve as the participant if
[that form of ownership is] permitted [or not prohibited] by
Section 529A, Internal Revenue Code.
SECTION 2. This Act takes effect immediately if it receives
a vote of two-thirds of all the members elected to each house, as
provided by Section 39, Article III, Texas Constitution. If this
Act does not receive the vote necessary for immediate effect, this
Act takes effect September 1, 2019.