Research About Meet PRIA

Support Data Sources Privacy Policy Terms of Servicehello@policyrisk.com

© 2026 PRIA Technologies, LLC. All rights reserved.

PRIA provides educational policy intelligence and is not a source of investment, legal, or financial advice. Content is for informational purposes only.

™

Your Policy Risk Impact Agent

Research

At My Address
Federal Courts
Daily Briefings
Medicare & Social Security
Policy Risk Index
Congressional Bills
Federal Register
Tariffs
Fed Decisions & The Economy
State Tracker
World Watch
U.S. Code
U.S. Constitution
Aliens

Knowledge

Search Polipedia
Daily Briefings
Calculators
Policy Risk Index
What is Policy Risk?
The Countdown

Company

About PRIA
Support

Get PRIA

Support Data Sources Privacy Policy Terms of Service

hello@policyrisk.com

© 2026 PRIA Technologies, LLC. All rights reserved.

PRIA is a trademark of PRIA Technologies, LLC.

PRIA provides educational policy intelligence and is not a source of investment, legal, or financial advice. Content is for informational purposes only.

Michigan Statutes, Title 206

™

Your Policy Risk Impact Agent

Michigan/Statutes

← All Michigan coverage

Title 206, INCOME TAX ACT OF 1967

12 chapters · 251 sections in this title.

All chapters in Title 206251 Ch 281-of-1967, INCOME TAX ACT OF 1967176 Ch 160-of-2015, MICHIGAN ACHIEVING A BETTER LIFE EXP…17 Ch 513-of-2006, INDIVIDUAL OR FAMILY DEVELOPMENT ACC…9 Ch 181-of-2016, MICHIGAN JUNIOR ACHIEVEMENT FUND ACT6 Ch 255-of-2018, LIONS OF MICHIGAN FOUNDATION FUND ACT6 Ch 259-of-2018, KIWANIS FUND ACT6 Ch 347-of-2010, GIRL SCOUTS OF MICHIGAN FUND ACT6 Ch 88-of-2013, MICHIGAN ALZHEIMER'S ASSOCIATION FUN…5 Ch 89-of-2013, ALS OF MICHIGAN ("LOU GEHRIG'S DISEA…5 Ch 155-of-2012, SPECIAL OLYMPICS MICHIGAN FUND ACT5 Ch 183-of-2016, AMERICAN RED CROSS MICHIGAN FUND ACT5 Ch 257-of-2018, MICHIGAN WORLD WAR II LEGACY MEMORIA…5

17 sections·Filtered byTitle 206✕Ch 160-of-2015✕

Mich. Comp. Laws § 206.981 Short title.
0.1K chars
Sec. 1. This act shall be known and may be cited as the "Michigan achieving a better life experience (ABLE) program act".
Mich. Comp. Laws § 206.982 Definitions.
3.6K chars
Sec. 2. As used in this act: (a) "ABLE" means achieving a better life experience. (b) "ABLE savings account" or "account" means an account established under this act. (c) "Account owner" means an individual who is a resident of this state, or a resident of a contracting state, an…
Mich. Comp. Laws § 206.983 Michigan ABLE savings program; establishment; program manager; purposes, powers, and duties of state treasurer or designee; selection of program managers; proposals; factors; duties of treasurer and program manager; contract.
5.6K chars
Sec. 3. (1) The Michigan ABLE savings program is established in the department of treasury. The program shall consist of more than 1 program manager and shall provide multiple savings plans. (2) The treasurer shall solicit proposals from entities to be a program manager to provid…
Mich. Comp. Laws § 206.984 Management contract; supervision.
0.1K chars
Sec. 4. The treasurer shall be responsible for the ongoing supervision of each management contract.

Mich. Comp. Laws § 206.985 Management contract; term of years; termination.

0.2K chars

Sec. 5. (1) A management contract shall be for a term of years specified in the management contract. (2) The treasurer may terminate a management contract based on the criteria specified in the management contract.

Mich. Comp. Laws § 206.986 Contracts as necessary and proper.

0.1K chars

Sec. 6. The treasurer may enter into contracts that it considers necessary and proper for the implementation of this program.

Mich. Comp. Laws § 206.987 ABLE savings accounts; establishment; opening of account by individual or designated representative; agreement; form; contents; contributions; exemption from creditor process; distributions; separate accounting.

2.8K chars

Sec. 7. (1) Beginning January 1, 2016, ABLE savings accounts may be established under this act. (2) Any individual who is a resident of this state or a resident of a contracting state may open an ABLE savings account to save money to pay the qualified disability expenses of the d…

Mich. Comp. Laws § 206.988 Changes in account owners or designated beneficiaries; transfers.

1.0K chars

Sec. 8. (1) Changes in account owners or designated beneficiaries are permitted as follows: (a) An account owner may change the designated beneficiary of an account to another eligible individual who is a member of the family of the previously designated beneficiary. (b) An accou…

Mich. Comp. Laws § 206.989 Directing investment of contributions in violation of internal revenue code; prohibition; administrative services; use of interest as loan security.

0.7K chars

Sec. 9. (1) An account owner shall not, directly or indirectly, direct the investment of any contributions to an account or the earnings on an account in violation of section 529A of the internal revenue code. An account owner may select among different investment strategies desi…

Mich. Comp. Laws § 206.990 Maximum account balance limit.

1.2K chars

Sec. 10. (1) The maximum account balance limit for an ABLE account shall not exceed the maximum amount allowed for an education savings account pursuant to section 10 of the Michigan education savings program act, 2000 PA 161, MCL 390.1480. (2) The program manager shall notify an…

Mich. Comp. Laws § 206.991 Submission of certain information to internal revenue service, department, and account owner.

1.4K chars

Sec. 11. (1) In accordance with section 529A(d) of the internal revenue code, each program manager shall submit both of the following to the internal revenue service and the department: (a) A notice upon the establishment of each ABLE savings account. The notice must contain the …

Mich. Comp. Laws § 206.992 Disclosure of information to account owner and other person requesting information.

1.3K chars

Sec. 12. Each program manager shall disclose the following information in writing to each account owner of an ABLE savings account and any other person who requests information about an ABLE savings account: (a) The terms and conditions for establishing an ABLE savings account. (…

Mich. Comp. Laws § 206.993 Construction and interpretation of act and agreement.

0.4K chars

Sec. 13. This act and any agreement under this act shall not be construed or interpreted to do any of the following: (a) Give any designated beneficiary any rights or legal interest with respect to an account unless the designated beneficiary is the account owner. (b) Give reside…

Mich. Comp. Laws § 206.994 State obligation.

0.7K chars

Sec. 14. (1) This act does not create and shall not be construed to create any obligation upon this state or any agency or instrumentality of this state to guarantee for the benefit of an account owner or designated beneficiary any of the following: (a) The rate of interest or ot…

Mich. Comp. Laws § 206.995 Annual report.

0.7K chars

Sec. 15. Each program manager shall file an annual report with the treasurer that includes all of the following: (a) The names and identification numbers of account owners and designated beneficiaries. The information reported pursuant to this subdivision is not subject to the fr…

Mich. Comp. Laws § 206.996 Tax exemption.

0.3K chars

Sec. 16. (1) Contributions to and interest earned on an ABLE savings account are exempt from taxation as provided in section 30 of the income tax act of 1967, 1967 PA 281, MCL 206.30. (2) Withdrawals made from ABLE savings accounts are taxable as provided in section 30 of the inc…

Mich. Comp. Laws § 206.997 Consideration of financial circumstances for purpose of assistance program; effect of ABLE savings account.

1.0K chars

Sec. 17. (1) Notwithstanding any other provision of law regarding an assistance program offered by this state that requires consideration of 1 or more financial circumstances of an individual, for the purpose of determining eligibility to receive, or the amount of, any assistance…