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IN SB0412
Bill
AI Summary
Senate Enrolled Act 412 Summary
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Excludes funds in education savings accounts (defined in IC 21-9-2-2) from being counted as resources or assets when determining eligibility for Low Income Home Energy Assistance Block Grant under 42 U.S.C. 8621 et seq., effective July 1, 2017
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Excludes education savings account funds from asset calculations for TANF (Temporary Assistance for Needy Families) eligibility determinations, effective July 1, 2017
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Excludes education savings account funds from being considered as resources or assets for Medicaid eligibility determinations, effective July 1, 2017
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Excludes education savings account funds from asset calculations for determining eligibility for scholarships, grants, and awards administered by the Commission for Higher Education, effective July 1, 2017
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Repeals previous statute that prohibited education savings account funds from being considered when determining award amounts under other Commission for Higher Education programs, effective July 1, 2017
Legislative Description
529 education savings plan matters. Prohibits, unless otherwise provided under federal law, money in a 529 education savings account from being considered as a resource or asset in determining an applicant's or recipient's eligibility for: (1) certain public assistance programs; or (2) scholarships, grants, or awards administered by the commission for higher education.
Last Action
Public Law 70
4/13/2017