TITLE: Relating to eligible participants in the Texas Achieving a Better Life Experience (ABLE) Program.

SUMMARY: Relating to eligible participants in the Texas Achieving a Better Life Experience (ABLE) Program.

FULL TEXT:
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.