HB 133 Summary

• Requires the department administering education savings programs to consult with the Governor's Council on Disabilities and Special Education when exercising powers and duties under the Alaska savings program for eligible individuals.

• Modifies eligibility requirements for the Alaska savings program by changing "shall be" to "must be" and clarifying that disability must occur before the age required by federal law rather than specifically age 26.

• Expands contribution flexibility by allowing persons to contribute to education savings accounts under AS 14.40.802(f)(3) and permits transfers between accounts for eligible family members under federal rollover distribution restrictions.

• Permits transfer of funds from education savings accounts to the Alaska savings program (ABLE accounts) for eligible individuals with disabilities, subject to federal contribution limits under 26 U.S.C. 529A(b)(2)(B)(ii).

• Protects participant privacy by adding education savings program participants' names, addresses, and identifying information to the list of records exempt from public disclosure under Alaska's public records law.