Section 2500.70 Distributions
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Illinois Administrative Code › Title 23 EDUCATION AND CULTURAL RESOURCES › CHAPTER XVI: TREASURER › Part 2500 COLLEGE SAVINGS POOL › Section 2500.70 Distributions
Text
Section 2500
Section 2500.70 Distributions
a)
Distributions
made from
an account in
the Pool may be made directly to the eligible
educational institution, directly to a vendor, in the form of a check payable
to both the designated beneficiary and the institution or vendor, directly to
the designated beneficiary or account owner, or in any other manner that is
permissible under section 529 of the Code.
[15 ILCS 505/16.5(i)]
b)
Funds
contained in
an
account may be rolled over into
other eligible Illinois
programs, including
an eligible ABLE account
(see 15 ILCS 505/16.6)
or
another qualified tuition program,
to the extent permitted by section
529 of the Code
.
c) The
Treasurer will comply with all reporting requirements regarding distributions
under section 529 of the Code.
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