H.B. 1263 Summary

• Repeals language that gives the director of finance discretion to use Hawaii ABLE savings program trust fund moneys when accepting deposits from contributors instead of sending deposits directly to the ABLE program manager

• Authorizes the director of finance to expend trust fund moneys to provide incentive payments to Hawaii public school ABLE account owners to encourage participation by eligible individuals and families

• Appropriates unspecified amounts from general revenues to the Hawaii ABLE savings program trust fund for fiscal years 2023-2024 and 2024-2025

• Appropriates unspecified amounts from the trust fund to the department of budget and finance for fiscal years 2023-2024 and 2024-2025 to provide incentive payments to ABLE account owners

• Appropriates unspecified amounts from the trust fund to the department of health for fiscal years 2023-2024 and 2024-2025 to fund one full-time permanent position within the state council on developmental disabilities for outreach, advocacy, and relationship management

• Takes effect June 30, 2050