HB 431/SB 355: ABLE Act
Federal law enacted in December 2014 authorized states to establish tax-advantaged savings program to help people with disabilities save limited amounts for disability-related expenses (such as health care, assistive technology, education, employment supports and housing) without losing eligibility for certain public benefits. Maryland legislation enacted in 2015 established the ABLE Task Force to make recommendations for an ABLE Program, resulting in this year’s bill. College Savings Plans of Maryland and the Maryland Department of Disabilities and will co-manage the program. Governor Hogan committed $745,000 for program start-up costs and signed the legislation into law on April 12, 2016.
- Department of Intellectual and Developmental Disabilities
- Asset Development / Financial Capability