North Carolina § 147-86 - 70. Policy and definitions.

§ 147-86. 70. Policy and definitions.

Policy. - The General Assembly of North Carolina hereby finds and declares that encouraging and assisting individuals and families in saving private funds for the purpose of supporting individuals with disabilities, as authorized in the federal Achieving a Better Life Experience (ABLE) Act, to maintain health, independence, and a better quality of life is fully consistent with and furthers the long-established policy of the State to provide tools that strengthen opportunities for personal economic development and long-term financial planning. Definitions. - The following definitions apply in this section: ABLE account. - An account established and owned by an eligible individual and maintained under this Article. A parent, sibling, guardian, or agent under a power of attorney may act on behalf of an account owner. Account owner. - The person who enters into an ABLE savings agreement pursuant to the provisions of this Article. The account owner must be the designated beneficiary. Board. - The ABLE Program Board of Trustees established in G.S. 147-86.72. Repealed by Session Laws 2016-56, s. 9(c), effective June 30, 2016. Designated beneficiary. - The eligible individual who established and owns an ABLE account. Disability certification. - Defined in 26 U.S.C. § 529A(e)(2). Eligible individual. - Defined in 26 U.S.C. § 529A(e)(1). Federal ABLE Act. - Division B of the Tax Increase Prevention Act of 2014, P.L. 113-295, the Achieving a Better Life Experience Act of 2014. Repealed by Session Laws 2020-48, s. 1.4(a), effective June 26, 2020, and applicable to actions taken on behalf of an ABLE account owner on or after that date. Qualified disability expense. - Defined in 26 U.S.C. § 529A(e)(5). Reserved for future codification purposes. Reserved for future codification purposes. Sibling. - A brother, sister, stepbrother, or stepsister. History (2015-203, s. 1; 2016-56, s. 9(c); 2017-212, s. 3.2(a); 2020-48, s. 1.4(a).) Editor's Note. - Session Laws 2015-203, s. 1, enacted this section as G.S. 147-86.50; it was recodified as G.S. 147-86.70 at the direction of the Revisor of Statutes. Session Laws 2015-203, s. 3, provides: "The Department of State Treasurer and the Department of Health and Human Services are authorized to adopt rules necessary to implement this act." Session Laws 2015-203, s. 4, provides: "The State Treasurer shall begin accepting contributions authorized under this act when federal regulations regarding the Achieving a Better Life Experience Program, as provided under the Tax Increase Prevention Act of 2014, P.L. No. 113-295, have been issued and provide the guidance necessary to implement the Achieving a Better Life Experience Trust Fund Program established in this act. If the federal regulations are materially inconsistent with this act, the Board may delay implementation of this act until a change in this act has been made. If the Board delays implementation, the Board shall provide a written report to the Governor, the Speaker of the House of Representatives, and the President Pro Tempore of the Senate identifying the changes in this act that must be made to be consistent with federal regulation." Session Laws 2016-56, s. 10, is a severability clause. Session Laws 2016-94, s. 22.2, provides: "No later than December 1, 2016, the Department of State Treasurer shall report to the Joint Legislative Oversight Committee on General Government on the status of the Achieving a Better Life Experience (ABLE) Program Trust as established under Article 6F of Chapter 147 of the General Statutes. The report shall include all of the following: "(1) A description of various organizational structures and approaches that may be utilized to implement the ABLE Program Trust. "(2) A comparison of the advantages and disadvantages of the various organizational structures and approaches that may be utilized to implement the ABLE Program Trust. "(3) Information regarding implementation discussions and plans of the multistate ABLE consortium. "(4) Information about plan design and implementation in other states, including Virginia, South Carolina, and Tennessee. "(5) Detailed costs of implementing and operating the ABLE Program Trust as a single-state program operated within North Carolina as compared to entering into an agreement with another state or states for operation. "(6) Upon consideration of the various approaches to implementation of the ABLE Program Trust, a detailed plan for implementation in North Carolina and the status of that implementation. The cost of the detailed plan for implementation shall be within the Department of State Treasurer's current appropriation for the ABLE Program Trust." Session Laws 2016-94, s. 1.2, provides: "This act shall be known as the 'Current Operations and Capital Improvements Appropriations Act of 2016.'" Session Laws 2016-94, s. 39.4, provides: "Except for statutory changes or other provisions that clearly indicate an intention to have effects beyond the 2016-2017 fiscal year, the textual provisions of this act apply only to funds appropriated for, and activities occurring during, the 2016-2017 fiscal year." Session Laws 2016-94, s. 39.7, is a severability clause. Session Laws 2020-48, s. 1.4(d), made the amendment of subsection (b) of this section by Session Laws 2020-48, s. 1.4(a), effective June 26, 2020, and applicable to actions taken on behalf of an ABLE account owner on or after that date. Session Laws 2020-48, s. 6.1, is a severability clause. Effect of Amendments. - Session Laws 2016-56, s. 9(c), effective June 30, 2016, deleted subdivision (b)(4), which read "Contracting state. - A state without a qualified ABLE program that has entered into a contract with North Carolina to provide residents of the contracting state access to a qualified ABLE program." Session Laws 2017-212, s. 3.2(a), effective October 8, 2017, substituted "A parent, guardian, or agent" for "A guardian or agent" in the second sentence of subdivision (b)(1). Session Laws 2020-48, s. 1.4(a), added "sibling" in subdivision (b)(1); deleted subdivision (b)(9), which read, "Member of the family. - A brother, sister, stepbrother, or stepsister”; and added subdivision (b)(13). For effective date and applicability, see editor's note.