| 4.__Withdrawals for other purposes.__The account holder may |
withdraw funds from the account for purposes other than those |
expenses allowed under subsection 3 on the last business day of |
the calendar year without incurring a withdrawal penalty.__If an |
account holder withdraws funds at any other time, other than for |
those purposes allowed under subsection 3, the account holder |
must pay a penalty equal to 10% of the amount withdrawn.__The |
penalty must be paid to the Bureau of Revenue Services at the |
time the account holder files an income tax return under this |
Title for the taxable year in which the funds were withdrawn.__ |
The State Tax Assessor shall credit all penalties received to the |
General Fund. |