Title 53, Title 53

(1) The department shall establish a program oversight committee under the authority of the department. (2) The committee must consist of five members as follows: (a) the director of the department of public health and human services or the director's designee; (b) the director o…

(1) The program must be operated through use of accounts in the trust established by designated beneficiaries. Payments to the trust for participation in the program must be made by or on behalf of designated beneficiaries pursuant to participating trust agreements. A person who …

(1) A designated beneficiary or agent may withdraw all or part of the balance from an account under rules prescribed by the department. The rules must be used to help the department or program administrator to determine whether a withdrawal is a nonqualified withdrawal or a quali…

(1) A designated beneficiary or agent may change the designated beneficiary of an account to an individual who is a member of the family of the former designated beneficiary in accordance with procedures established by the department. (2) If requested by a designated beneficiary …

(1) The department shall implement the operation of the program through the use of one or more financial institutions to act as program manager. Under the program, a person may submit applications for enrollment in the program and participating trust agreements to a program manag…

(1) This chapter may not be construed to establish state residency for a person merely because the person is a designated beneficiary. (2) This chapter does not establish any obligation of this state or of an agency or instrumentality of this state to guarantee for the benefit of…

An individual who contributes to one or more accounts established pursuant to this chapter in a tax year is entitled to reduce the individual's Montana taxable income, in accordance with 15-30-2120, if the individual is: (1) the designated beneficiary; (2) the spouse of the desig…

(1) There is a recapture tax at a rate equal to the highest rate of tax provided in 15-30-2103 on the recapturable withdrawal of amounts that were deducted from income in calculating Montana individual income taxes. (2) For purposes of determining the portion of a recapturable wi…

Information that identifies the contributor, agent, or designated beneficiary of an account is exempt from the provisions of 2-6-1003 and any other provision of law permitting the public inspection or copying of documents.

Unless required by federal law or regulation, money in any account established pursuant to 26 U.S.C. 529A may not be counted as a resource in determining eligibility for an assistance program operated under Title 53 or any other federal, state, or local government means-tested pr…

(1) There is an achieving a better life experience savings trust that is an instrumentality of the state and that is created for a public purpose. The trust consists of trust interests, with each trust interest corresponding to an account. The assets of an account may not be comm…

(1) Except as provided in subsection (3) and 26 U.S.C. 529A, up to $100,000 of assets and earnings held in and distributions from the trust by or on behalf of a contributor or designated beneficiary of a participating trust agreement are exempt from all claims of creditors of the…