Definitions

1. Law
2. District of Columbia Code
3. Taxation, Licensing, Permits, Assessments, and Fees. [Enacted title]
4. College Savings Program
5. Definitions

For the purposes of this chapter, the term:

(1) “Account” means a college savings account established under § 47-4503.

(2) “Account owner” means the individual or organization who enters into a college savings agreement under this chapter establishing an account. The account owner may also be the designated beneficiary of the account.

(3) Repealed.

(4) “Designated beneficiary” shall have the same meaning as in section 529(e)(1) of the Internal Revenue Code [26 U.S.C. § 529(e)(1)].

(5) “Eligible institution” shall have the same meaning as “eligible educational institution” in section 529(e)(5) of the Internal Revenue Code [26 U.S.C. § 529(e)(5)].

(6) “Internal Revenue Code” means the Internal Revenue Code of 1986, approved October 22, 1986 (100 Stat. 2085; 26 U.S.C. § 1 et seq.).

(7) “Member of the family” shall have the same meaning as in section 529(e)(2) of the Internal Revenue Code [26 U.S.C. § 529(e)(2)].

(8) “Program” means the District of Columbia College Savings Program established under § 47-4502, including the Trust established therewith.

(9) “Qualified higher education expenses” shall have the same meaning as in section 529(e)(3) of the Internal Revenue Code [26 U.S.C. § 529(e)(3)].

(10) “Qualified withdrawal” means a withdrawal from an account to pay the qualified higher education expenses of the designated beneficiary of the account.

(11) “Trust” means the District of Columbia College Savings Program Trust established under § 47-4502.

(12) “Trustee” means the trustee of the District of Columbia College Savings Program Trust.

(Mar. 31, 2001, D.C. Law 13-212, § 2(b), 47 DCR 9457; June 5, 2003, D.C. Law 14-307, § 2402(b), 49 DCR 11664; May 2, 2015, D.C. Law 20-271, § 267(a), 62 DCR 1884.)

Effect of Amendments

D.C. Law 14-307, in par. (2), substituted “individual or organization” for “individual”; rewrote pars. (4), (5), (7), (8), and (9); and added pars. (11) and (12).

The 2015 amendment by D.C. Law 20-271 repealed (3).

Emergency Legislation

For temporary (90 day) amendment of section, see § 2402(b) of Fiscal Year 2003 Budget Support Amendment Emergency Act of 2002 (D.C. Act 14-544, December 4, 2002, 49 DCR 11700).

For temporary (90 day) amendment of section, see § 2(b) of College Savings Program Emergency Act of 2002 (D.C. Act 14-374, May 20, 2002, 49 DCR 5114).

For temporary (90 day) amendment of section, see § 2402(b) of the Fiscal Year 2003 Budget Support Amendment Congressional Review Emergency Act of 2003 (D.C. Act 15-27, February 24, 2003, 50 DCR 2151).

For temporary (90 day) amendment of section, see § 2402(b) of Fiscal Year 2003 Budget Support Amendment Second Congressional Review Emergency Act of 2003 (D.C. Act 15-103, June 20, 2003, 50 DCR 5499).

For temporary (90 days) amendment of this section, see § 267(a) of the New Columbia Statehood Initiative, Omnibus Boards and Commissions, and Election Transition Reform Emergency Amendment Act of 2014 (D.C. Act 20-481, Nov. 18, 2014, 61 DCR 12133, 20 STAT 4405).

For temporary (90 days) amendment of this section, see § 267(a) of the New Columbia Statehood Initiative, Omnibus Boards and Commissions, and Election Transition Reform Congressional Review Emergency Amendment Act of 2015 (D.C. Act 21-7, Feb. 26, 2015, 62 DCR 2646, 21 STAT 807).

Temporary Legislation

For temporary (225 day) amendment of section, see 2(b) of College Savings Program Temporary Act of 2002 (D.C. Law 14-186, October 1, 2002, law notification 49 DCR 9244).

References in Text

Section 529 of the Internal Revenue Code, referred to in pars. (4), (5), (7), and (9), is classified to 26 U.S.C. § 529.

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