(a) The Board shall issue refunds as specified in this section.
(b) If the contribution of an ABLE account contributor under the Maryland ABLE Program would result in aggregate contributions from all contributors to the ABLE account for the taxable year exceeding the amount specified in § 529A(b)(2) of the Internal Revenue Code for each calendar year in which the taxable year begins, the Board shall issue a refund to the ABLE account contributor.
(c) The Board shall adopt procedures to ensure that contributions to the account of each ABLE account holder do not exceed the total maximum amount determined under § 529A(b)(6) of the Internal Revenue Code.
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