Program and administrative funds — investment and payment.

; ; ; ; ; ; ; ; ; ; ; ; ; ; ; ; ; ; ; ; ; ; ; ; ; ; ; ; courier new tur ; arial (vietnamese) ; courier new (arabic) ; times new roman ce ; tahoma (vietnamese) ; arial (hebrew) ; times new roman cyr ; courier new greek ; symbol ; tahoma (hebrew) ; arial ; arial baltic ; arial tur ; times new roman (arabic) ; courier new ; imperial bt ; tahoma ce ; wingdings ; tahoma cyr ; times new roman tur ; courier new ce ; tahoma ; courier new (hebrew) ; arial (arabic) ; courier new baltic ; courier new cyr ; times new roman ; tahoma baltic ; tahoma (arabic) ; arial ce ; courier new (vietnamese) ; tahoma (thai) ; times new roman greek ; tahoma greek ; tahoma tur ; times new roman (hebrew) ; times new roman baltic ; times new roman (vietnamese) ; arial greek ; arial cyr ; \* .;
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 ?; ; ; Normal ; heading 1 ; heading 2 ; heading 3 ; heading 4 ; heading 5 ; heading 6 ; heading 7 ; heading 8 ; heading 9 ; Balloon Text ; Block Text ; Body Text ; Body Text 2 ; Body Text 3 ; Body Text First Indent ; Body Text First Indent 2 ; Body Text Indent 2 ; Body Text Indent 3 ; caption ; Closing ; annotation text ; annotation subject ; Date ; Document Map ; E-mail Signature ; endnote text ; envelope address ; envelope return ; footer ; footnote text ; header ; HTML Address ; HTML Preformatted ; index 1 ; index 2 ; index 3 ; index 4 ; index 5 ; index 6 ; index 7 ; index 8 ; index 9 ; index heading ; List ; List 2 ; List 3 ; List 4 ; List 5 ; List Bullet ; List Bullet 2 ; List Bullet 3 ; List Bullet 4 ; List Bullet 5 ; List Continue ; List Continue 2 ; List Continue 3 ; List Continue 4 ; List Continue 5 ; List Number ; List Number 2 ; List Number 3 ; List Number 4 ; List Number 5 ; macro ; Message Header ; Normal (Web) ; Normal Indent ; Note Heading ; Plain Text ; Salutation ; Signature ; Subtitle ; table of authorities ; table of figures ; Title ; toa heading ; toc 1 ; toc 2 ; toc 3 ; toc 4 ; toc 5 ; toc 6 ; toc 7 ; toc 8 ; toc 9 ; \~\~ \~\~ \~\~ \~\~ \~\~ 12I.4 \~\~ Program and administrative funds — investment and payment. \~\~ 1. \~\~ a. \~\~ The treasurer of state shall segregate moneys received by the trust into two funds: the program fund and the administrative fund. \~\~ b. \~\~ All moneys paid by account owners or other persons on behalf of a designated beneficiary in connection with participation agreements shall be deposited as received into separate accounts for each designated beneficiary within the program fund. \~\~ c. \~\~ Contributions to the trust made on behalf of designated beneficiaries may only be made in the form of cash. \~\~ d. \~\~ An account owner or designated beneficiary is not permitted to provide investment direction regarding contributions or earnings held by the trust. \~\~ 2. \~\~ Moneys accrued by account owners in the program fund of the trust may be used for payments of qualified disability expenses. \~\~ 3. \~\~ Moneys in the account of a designated beneficiary shall not be claimed by the Iowa Medicaid program as authorized in section 529A(f) of the Internal Revenue Code unless such claim is required to maintain qualified ABLE program status under section 529A of the Internal Revenue Code . \~\~ 4. \~\~ The trust shall comply with Pub. L. No. 113-295, §103 , regarding treatment of ABLE accounts under certain federal programs. \~\~ 5. \~\~ Moneys in the funds are not subject to section 8.33 . Notwithstanding section 12C.7 , interest or earnings on moneys in the funds shall be credited to the funds. 2015 Acts, ch 137, §79, 162, 163 ; 2021 Acts, ch 136, §6 Referred to in §12I.9