Ariz. Admin. Code § 6-5-3301

Current through Register Vol. 30, No. 25, June 21, 2024

Section R6-5-3301 - Definitions

The following definitions apply to this Article:

1. "ABLE" means the Achieving a Better Life Experience Act.

2. "Account" means an individual account in the fund established as prescribed for a single designated beneficiary.

3. "Aggregate Account Balance" means the total amount in an account on a particular date.

4. "Applicant" means any individual who applies to open an Account in the Program.

5. "Cash" means personal check, cashier's check, money order, debit card, Automated Clearing House (ACH) payments, or a similar cash equivalent.

6. "Code" means the federal Internal Revenue Code of 1986, as amended ( 26 U.S.C. 529A ).

7. "Committee" means the same as in A.R.S. § 46-901(3).

8. "Department" means the Arizona Department of Economic Security.

9. "Designated Beneficiary" means the same as in A.R.S. § 46-901(5).

10. "Designated Representative" means a person who is authorized to act on behalf of a Designated Beneficiary.

11. "Disability Certification" means the certification described in Section 529A of the Code.

12. "Eligible Individual" means the same as in A.R.S. § 46-901(6).

13. "IRS" means the federal Internal Revenue Service.

14. "Program" means the same as in A.R.S. § 46-901(9).

15. "Program Manager" means the entity selected by the Department for the Program in accordance with A.R.S. § 46-903(C)(1) -(8).

16. "Qualified Disability Expenses" means the same as in A.R.S. § 46-901(10).

17. "Qualified Withdrawal" or "Qualified Distribution" means a withdrawal from an Account to pay Qualified Disability Expenses of the Designated Beneficiary.

18. "Secretary" means the United States Secretary of the Treasury or his/her delegate.

19. "SSA" means the Social Security Administration.

Ariz. Admin. Code § R6-5-3301

Adopted by final rulemaking at 25 A.A.R. 885, effective 5/20/2019.