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CT HB05558

Bill

Official Source

Status

Introduced

3/3/2016

Primary Sponsor

Banking Committee

Click for details

Origin

House of Representatives

2016 General Assembly

AI Summary

  • Banking Commissioner must study and submit a report to the joint standing committee on banking by January 1, 2017 regarding a mechanism for converting Section 529 education savings plans into ABLE accounts.

  • The conversion mechanism study must address Section 529 plans as described in the Internal Revenue Code of 1986 and any subsequent corresponding provisions, as amended.

  • ABLE accounts are established under section 3-39k of the general statutes and serve as an alternative savings vehicle for qualified individuals.

  • The act takes effect upon passage.

Legislative Description

An Act Promoting The Use Of Able Accounts.

Last Action

File Number 295

3/30/2016

Committee Referrals

Banking3/3/2016

Full Bill Text

No bill text available