MO HB2807

Removes language stating that the state has no property rights in ABLE program assets, clarifying that assets must be preserved, invested, expended, and distributed only for purposes outlined in the statute and federal tax code

Aligns Missouri ABLE program definitions and requirements with 26 U.S.C. Section 529A of the Internal Revenue Code, including terms for ABLE accounts, designated beneficiaries, eligible individuals, and qualified disability expenses

Establishes the Missouri ABLE Board structure with the State Treasurer as chairman, along with representatives from health and senior services, office of administration, economic development, and three appointed members with finance/banking expertise serving four-year terms

Authorizes the board to enter agreements with other states allowing their residents to participate in Missouri's ABLE program and to contract with financial institutions for investment services

Sets contribution limits matching federal requirements under Section 529A, with total account balance limits at least equal to Missouri's higher education savings program limits