SB0011 Summary

• Creates the Achieving a Better Life Experience (ABLE) authority and board to establish and manage a qualified ABLE program allowing individuals with disabilities to save money tax-free for qualified disability expenses in compliance with Section 529A of the Internal Revenue Code, effective July 1, 2016.

• Establishes an ABLE board consisting of four ex officio members (Treasurer of State, Secretary of Family and Social Services, Budget Director, and Executive Director of Indiana Housing and Community Development Authority) and five appointed members with expertise in finance, law, disability advocacy, and lived experience with disability.

• Defines eligible individuals as those entitled to federal Social Security benefits for blindness or disability occurring before age 26, or those with filed disability certifications; allows account owners to make tax-advantaged contributions for qualified disability expenses including education, housing, transportation, employment training, assistive technology, health, and legal fees.

• Exempts ABLE accounts and authority operations from state and local taxation; protects account funds from creditors, attachment, and garnishment; and prohibits funds from being counted toward income eligibility for state assistance programs.

• Eliminates previous Medicaid reimbursement language requiring a 3% increase above base rates for intermediate care facilities and community residential facilities for the developmentally disabled.