HI SR153

Request that the Department of Budget and Finance work with the State Council on Developmental Disabilities to promote the Hawaii ABLE Savings Program to all eligible individuals

Approximately 23,000 individuals with developmental disabilities and an additional 20,000 individuals with other disabilities in Hawaii are eligible to open ABLE accounts

ABLE Savings Program accounts allow eligible individuals with disabilities to establish tax-free savings accounts for education, healthcare, community-based support, employment training, assistive technology, housing, and transportation expenses

Hawaii ABLE Savings Program was enacted in 2015 under Act 206 and is modeled after Section 529 of the Internal Revenue Code, allowing interest earned on savings to be tax-free

Direct certified copies of the resolution to the Director of Finance and Chairperson of the Hawaii State Council on Developmental Disabilities