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NY A07473

Bill

Official Source

Status

Passed

11/25/2019

Primary Sponsor

Aileen Gunther

Click for details

Origin

Assembly

2019-2020 General Assembly

AI Summary

  • Amends the mental hygiene law to change the maximum account balance limit for the New York ABLE program
  • Removes the fixed cap of $100,000 and replaces it with the federally authorized contribution level established for the New York college choice tuition savings program under Education Law section 695-e
  • Requires the comptroller to establish and adjust the maximum account balance in accordance with applicable state or federal law and regulations
  • Takes effect immediately upon enactment

Legislative Description

Relates to increasing the maximum account balance for the New York ABLE program in accordance with the NY state college choice tuition savings program.

Last Action

signed chap.545

11/25/2019

Committee Referrals

Mental Health and Developmental Disabilities5/29/2019
Ways and Means5/14/2019
Mental Health5/6/2019

Full Bill Text

No bill text available