CT HB06738

Establishes the Connecticut Achieving A Better Life Experience (ABLE) Trust administered by the State Treasurer to allow eligible individuals with disabilities to open ABLE accounts for saving funds to pay qualified disability expenses.

Defines eligible individuals as those entitled to Social Security benefits based on blindness or disability that occurred before age 26, and requires disability certification filed with the State Treasurer.

Permits deposits into ABLE accounts to cover qualified disability expenses including education, housing, transportation, employment support, assistive technology, health, funeral and burial expenses, and other Secretary of Treasury-approved expenses.

Exempts ABLE account property, earnings, and contributions from state taxation and from consideration when determining eligibility for state and federal assistance programs including medical assistance and need-based educational aid.

Authorizes the State Treasurer to invest trust funds prudently, establish participation agreements, contract for administrative services, and enter into agreements with other states to provide ABLE program access to residents of states without qualified programs.