2015 House Bill 4542 ↩

Senate Roll Call 379: Passed

To authorize a new “ABLE account" tax advantaged savings plan to cover education and living expenses for beneficiaries who are disabled. Mirroring the federal law that created these accounts, under House Bill 4544 balances and distributions from a beneficiary's account would not be included in gross income or assets for purposes of caps limiting various state aid programs. House Bill 4541 would increase the maximum balance allowed in these and other "529” savings plans to $500,000.