SB 215 Summary

• Expands eligibility for Alaska savings accounts under AS 06.65 to include individuals with disabilities certified by the secretary, removing the previous requirement that disability must occur before age 26 and allowing flexibility based on federal law

• Renames the "Alaska Higher Education Savings Trust" to the "Education Trust of Alaska" and broadens the program from higher education to postsecondary education savings, aligning terminology throughout related statutes

• Allows transfers from Education Trust of Alaska accounts to ABLE program accounts (AS 06.65) for eligible individuals with disabilities who are family members of the original beneficiary

• Requires the Department of Health and Social Services (previously Revenue) to consult with the Governor's Council on Disabilities and Special Education when administering savings programs for eligible individuals

• Updates the Alaska education savings program for children to use "education savings plan" terminology and clarifies program administration while maintaining confidentiality protections for participant information