AB731-ASA1,7,1811 16.643 (3) (d) Upon the death of the beneficiary who is the account owner the
12account shall terminate, and upon the termination of an account as described in par.
13(a) 3.
, any amount remaining in the account shall be recoverable by the state under
14s. 49.849 as property of a decedent is recoverable under that statute. Any amount
15that remains in the account following such recovery under s. 49.849 shall be paid to
16the account owner's estate. Recovery authorized under this paragraph may relate
17only to public assistance received by a beneficiary an account owner on and after the
18date on which an account is established under this section.
AB731-ASA1,1r 19Section 1r. 16.644 of the statutes is created to read:
AB731-ASA1,7,25 2016.644 ABLE savings program; repayment to the general fund. (1) The
21secretary shall transfer from the ABLE savings program trust fund to the general
22fund an amount equal to the amount expended from the appropriation under s.
2320.505 (1) (am) when the secretary determines that moneys in that trust fund are
24sufficient to make the transfer. The secretary may make the transfer in
25installments.
AB731-ASA1,8,3
1(2) Annually, by June 1, the secretary shall submit a report to the joint
2committee on finance on the amount available for repayment under sub. (1), the
3amount repaid under sub. (1), and the outstanding balance under sub. (1).
AB731-ASA1,1s 4Section 1s. 20.005 (3) (schedule) of the statutes: at the appropriate place,
5insert the following amounts for the purposes indicated: - See PDF for table PDF
AB731-ASA1,1t 6Section 1t. 20.505 (1) (am) of the statutes is created to read:
AB731-ASA1,8,97 20.505 (1) (am) Administrative expenses; ABLE savings program. The
8amounts in the schedule for the administrative expenses of the ABLE savings
9program under s. 16.643, including the expense of promoting the program.
AB731-ASA1,1u 10Section 1u. 20.505 (1) (tr) of the statutes is created to read:
AB731-ASA1,8,1311 20.505 (1) (tr) Payment of qualified disability expenses; ABLE savings program
12trust fund.
From the ABLE savings program trust fund, a sum sufficient for the
13payment of qualified disability expenses under s. 16.643 (4).
AB731-ASA1,1v 14Section 1v. 20.505 (1) (tt) of the statutes is created to read:
AB731-ASA1,9,215 20.505 (1) (tt) Administrative expenses; ABLE savings program. From the
16ABLE savings program trust fund, the amounts in the schedule for the

1administrative expenses of the ABLE savings program under s. 16.643, including the
2expense of promoting the program.
AB731-ASA1,1w 3Section 1w. 25.14 (1) (a) 20. of the statutes is created to read:
AB731-ASA1,9,44 25.14 (1) (a) 20. The ABLE savings program trust fund.
AB731-ASA1,1x 5Section 1x. 25.17 (1) (ab) of the statutes is created to read:
AB731-ASA1,9,76 25.17 (1) (ab) ABLE savings program trust fund (s. 25.86), but subject to sub.
7(2) (fm).
AB731-ASA1,1y 8Section 1y. 25.17 (2) (fm) of the statutes is created to read:
AB731-ASA1,9,159 25.17 (2) (fm) Invest the moneys belonging to the ABLE savings program trust
10fund in a manner consistent with the guidelines established under s. 16.643 (2m) (b),
11unless the moneys are under the management and control of a vendor selected under
12s. 16.257. In making investments under this paragraph, the investment board shall
13accept any reasonable terms and conditions that the ABLE savings program board
14specifies and is relieved of any obligations relevant to prudent investment of the
15fund, including the standard of responsibility under s. 25.15 (2).
AB731-ASA1,1z 16Section 1z. 25.86 of the statutes is created to read:
AB731-ASA1,9,21 1725.86 ABLE savings program trust fund. There is established a separate
18nonlapsible trust fund designated as the ABLE savings program trust fund,
19consisting of all revenue from enrollment fees for and contributions to accounts
20established under s. 16.643 and from distributions and fees paid by the vendor under
21s. 16.257 (3).
AB731-ASA1,2 22Section 2. 71.05 (6) (a) 27. of the statutes, as created by 2015 Wisconsin Act
2355
, is amended to read:
AB731-ASA1,9,2524 71.05 (6) (a) 27. Except as provided in subd. 28., any accumulated interest,
25dividends, or other gain that accrues from an account described under s. 16.643 or

1established under a qualified ABLE program, as described under section 529A (b) (1)
2of the Internal Revenue Code,
during the taxable year in which a withdrawal occurs
3from such an account if any amount of the money or other assets in the account is
4withdrawn by, or at the direction of, an account owner for any reason other than the
5payment of qualified disability expenses, as defined in s. 16.643 (1) (e) section 529A
6(e) (5) of the Internal Revenue Code
, for the account beneficiary.
AB731-ASA1,3 7Section 3. 71.05 (6) (a) 28. of the statutes, as created by 2015 Wisconsin Act
855
, is amended to read:
AB731-ASA1,10,129 71.05 (6) (a) 28. Upon the termination of an account as described under s.
1016.643 (3) (d), or an account that is part of a qualified ABLE program under section
11529A of the Internal Revenue Code
, any amount in the account that is returned to
12an account owner, or an account owner's estate.
AB731-ASA1,4 13Section 4. 71.05 (6) (b) 52. of the statutes, as created by 2015 Wisconsin Act
1455
, is amended to read:
AB731-ASA1,10,2015 71.05 (6) (b) 52. Subject to the limits under s. 16.643 (3) (c) 1. and 2. or section
16529A (b) (2) of the Internal Revenue Code
, any amount that is deposited by an
17account owner or any other person into an ABLE account described under s. 16.643
18or section 529A (b) (1) of the Internal Revenue Code, and any interest, dividends, or
19other gain that accrues in the account if the interest, dividends, or other gain is
20redeposited into the account.
AB731-ASA1,5 21Section 5. 71.07 (5) (a) 9. of the statutes, as created by 2015 Wisconsin Act 55,
22is amended to read:
AB731-ASA1,11,223 71.07 (5) (a) 9. The amount claimed as a deduction for unreimbursed medical
24expenses under section 213 (a) of the Internal Revenue Code to the extent that the
25funds used to pay for the unreimbursed expenses for which the deduction was

1claimed were withdrawn from an ABLE account described under s. 16.643 or section
2529A (b) (1) of the Internal Revenue Code
.
AB731-ASA1,5m 3Section 5m. Nonstatutory provisions.
AB731-ASA1,11,94 (1) ABLE savings program board; initial terms. Notwithstanding section
515.105 (25p) (d) of the statutes, as created by this act, of the initial members
6appointed to the ABLE savings program board under section 15.105 (25p) (d) of the
7statutes, as created by this act, the term of one of those members expires on July 1,
82019, the term of one of those members expires on July 1, 2018, and the term of one
9of those members expires on July 1, 2017.
AB731-ASA1,11,1410 (2) ABLE savings program board; position authorizations. The authorized
11FTE positions for the department of administration are increased by 2.0 GPR
12positions on July 1, 2016, to be funded from the appropriation under section 20.505
13(1) (am) of the statutes, as created by this act, for the purpose of administering the
14ABLE savings program.
AB731-ASA1,6 15Section 6. Initial applicability.
AB731-ASA1,11,2116 (1) The treatment of sections 71.05 (6) (a) 27. and 28. and (b) 52. and 71.07 (5)
17(a) 9. of the statutes first applies to taxable years beginning on January 1 of the year
18in which this subsection takes effect, except that if this subsection takes effect after
19July 31, the treatment of sections 71.05 (6) (a) 27. and 28. and (b) 52. and 71.07 (5)
20(a) 9. of the statutes first applies to taxable years beginning on January 1 of the year
21following the year in which this subsection takes effect.
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