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2016 SESSION

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HB 1103 ABLE savings trust accounts; exclusion from determination of state means-tested assistance, etc.

Introduced by: Eileen Filler-Corn | all patrons    ...    notes | add to my profiles

SUMMARY AS INTRODUCED:

ABLE savings trust accounts; exclusion from determination of state means-tested assistance and benefits. Provides that, notwithstanding any other provision of state law that requires consideration of one or more financial circumstances of an individual for the purpose of determining (i) the individual's eligibility to receive any assistance or benefit pursuant to such provision of state law or (ii) the amount of any such assistance or benefit that such individual is eligible to receive pursuant to such provision of state law, any (a) moneys in an ABLE savings trust account for which such individual is the beneficiary, including any interest on such moneys, (b) contributions to an ABLE savings trust account for which such individual is the beneficiary, and (c) distribution for qualified disability expenses for such individual from an ABLE savings trust account for which such individual is the beneficiary shall be disregarded for such purpose with respect to any period during which such individual remains the beneficiary of, makes contributions to, or receives distributions for qualified disability expenses from such ABLE savings trust account.


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