Topeka, KS- The Kansas Legislature voted overwhelmingly to support HB 2216, legislation that contains the Achieving a Better Life Experience (ABLE) Act to allow families the opportunity to set up tax-exempt 529A savings accounts for disability-related expenses.
Under previous law, people with disabilities who saved more than $2,000 would not qualify or would risk the loss of their Supplemental Security Income (SSI), Medicaid, and other benefits, but the federal ABLE Act disregards the current $2,000 cap on savings for amounts in ABLE accounts.
“We are grateful that the Kansas legislature has passed ABLE so that families can support their loved ones and invest in their futures,” said Stuart Spielman, Senior Policy Advisor and Counsel at Autism Speaks. “We are hopeful that Governor Brownback will join governors across the country to promptly enact this important legislation for the disability community.”
ABLE programs are managed on the state level and require state implementation. Enactment of the Stephen Beck, Jr., ABLE Act of 2014 last December has spurred legislative activity across the country.
West Virginia and Virginia recently became the first states to enact ABLE since the federal law passed. Louisiana and Massachusetts enacted legislation before the federal law passed. Legislation is currently awaiting signature in North Dakota and Utah. Thirty other states have filed bills. States with pending legislation include the following: Alabama, Arkansas, California, Connecticut, Delaware, Florida, Hawaii, Illinois, Iowa, Kentucky, Maryland, Minnesota, Missouri, Montana, Nebraska, New Hampshire, New Jersey, New Mexico, New York, North Carolina, North Dakota, Oregon, Pennsylvania, Rhode Island, South Carolina, Tennessee, Texas, Utah, Vermont and Washington.