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6-84-102. Purpose.

Arkansas Code — all titles (historical 2020) · legal_authorities

6-84-102. Purpose.

6-84-102. Purpose. It is the intent and purpose of this chapter to create and establish the Arkansas Tax-Deferred Tuition Savings Program pursuant to 26 U.S.C. § 529, as in effect on January 1, 2018, to be administered by the Section 529 Plan Review Committee through the adoption of rules for the administration of the program.

Source: Arkansas Code — historical release 78 (November 6, 2020) · 6-84-102

Stored review status: Historical 2020-11-06 source release; later amendments not reconciled; machine-extracted, not independently legally reviewed; source heading status: text_in_historical_source. A text match is a research starting point; applicability is not established.

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Stable record: arkansas_code:legal_authorities:6-84-102
Source file: gov.ar.code.title.06.odt
Pages: Not recorded – Not recorded
Passage SHA-256: 2404570b68d5c5d241933206a06d1a2b86d23c6da4a02b45163df0b805200026

Source location: content.xml paragraph 45383

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Federal law — U.S. Code and appendices · legal_authorities

26 U.S.C. § 529 — Qualified tuition programs

**(a) General rule** A qualified tuition program shall be exempt from taxation under this subtitle. Notwithstanding the preceding sentence, such program shall be subject to the taxes imposed by section 511 (relating to imposition of tax on unrelated business income of charitable organizations). **(b) Qualified tuition program** For purposes of this section— (1) **In general** — The term “qualified tuition program” means a program established and maintained by a State or agency or instrumentality thereof or by 1 or more eligible educational institutions— (A) under which a person— (i) may purchase tuition credits or certificates on behalf of a designated beneficiary which entitle the beneficiary to the waiver or payment of qualified higher education expenses of the beneficiary, or (ii) in the case of a program established and maintained by a State or agency or instrumentality thereof, may make contributions to an account which is established for the purpose of meeting the qualified higher education expenses of the designated beneficiary of the account, and (B) which meets the other requirements of this subsection. Except to the extent provided in regulations, a program established and maintained by 1 or more eligible educational institutions shall not be treated as a qualified tuition program unless such program provides that amounts are held in a qualified trust and such program has received a ruling or determination that such program meets the applicable requirements for a qualified tuition program. For purposes of the preceding sentence, the term “qualified trust” means a trust which is created or organized in the United States for the exclusive benefit of designated beneficiaries and with respect to which the requirements of paragraphs (2) and (5)

Source: Supplied U.S. Code snapshot — release unconfirmed · 26 U.S.C. § 529

Stored review status: release_metadata_unconfirmed. The source passage cites 26 U.S.C. § 529. This identifies an authority to review, not proof of applicability.

Federal law — U.S. Code and appendices · legal_authorities

26 U.S.C. § 529 — Qualified tuition programs

Page 1732 TITLE 26—INTERNAL REVENUE CODE § 529 sociation were a corporation and as though the home- owners association taxable income were the taxable in- come referred to in section 11’’ and struck out provi- sion that for purposes of this subsection, the surtax ex- emption provided by section 11(d) not be allowed. Subsec. (b)(2)(B). Pub. L. 95–600, § 403(c)(2), substituted provision related to amount being determined accord- ing to section 1201(a) for provision requiring an amount of 30 percent. Subsec. (c)(2). Pub. L. 95–600, § 701(n)(1), substituted ‘‘by individuals for residences’’ for ‘‘as residences’’. Statutory Notes and Related Subsidiaries EFFECTIVE DATE OF 1997 AMENDMENT Pub. L. 105–34, title IX, § 966(e), Aug. 5, 1997, 111 Stat. 895, provided that: ‘‘The amendments made by this sec- tion [amending this section] shall apply to taxable years beginning after December 31, 1996.’’ EFFECTIVE DATE OF 1980 AMENDMENT Pub. L. 96–605, title I, § 105(b), Dec. 28, 1980, 94 Stat. 3523, provided that: ‘‘The amendment made by sub- section (a) [amending this section] shall apply to tax- able years beginning after December 31, 1980.’’ EFFECTIVE DATE OF 1978 AMENDMENT Amendment by section 301(b)(7) of Pub. L. 95–600 ap- plicable to taxable years beginning after Dec. 31, 1978, see section 301(c) of Pub. L. 95–600, set out as a note under section 11 of this title. Pub. L. 95–600, title IV, § 403(d)(3), Nov. 6, 1978, 92 Stat. 2869, provided that: ‘‘The amendments made by para- graphs (2), (3), and (4) of subsection (c) [amending this section and sections 857 and 904 of this title] shall take effect on the date of the enactment of this Act [Nov. 6, 1978].’’ Pub. L. 95–600, title VII, § 701(n)(2), Nov. 6, 1978, 92 Stat. 2907, provided that: ‘‘The amendment made

Source: Supplied 2024 U.S. Code historical extraction · 26 U.S.C. § 529

Stored review status: historical_2024_not_currentness_verified. The source passage cites 26 U.S.C. § 529. This identifies an authority to review, not proof of applicability.