FL H0911

Establishes the Developmental Disabilities Savings Program allowing parents and grandparents to make advance payments for services for children with developmental disabilities under age 22.

Defines eligible services including respite care, rehabilitation, transportation, assistive technology, health services, housing assistance, education support, and employment-related services.

Creates a 7-member Developmental Disabilities Savings Program Board including the directors of the Agency for Persons with Disabilities and Vocational Rehabilitation, representatives from The Arc of Florida and Family Care Council of Florida, and three gubernatorial appointees with expertise in accounting, actuarial science, risk management, or investment management.

Requires the board to obtain a written opinion from federal securities law counsel that the program complies with securities laws and a private letter ruling from the IRS regarding tax deferral on contributions and earnings before implementation.

Board has authority to contract with investment managers, investment consultants, and trustee services firms; collect administrative fees; solicit and accept gifts and grants; and adopt rules necessary to maintain qualified tax-deferred status under the Internal Revenue Code.