House approves tax-exempt accounts for disabled

[private]The Georgia House voted unanimously Tuesday to pass legislation (HB 768) that would authorize contributions to tax-exempt savings accounts to help pay the qualified expenses of persons with disabilities.

The “Achieving a Better Life Experience (ABLE) Act” had been bottled up in the House Ways & Means Committee for several weeks this session but finally made it out of committee last week. The bill now moves to the state Senate for consideration.

Rep. Lee Hawkins (R-Gainesville), the bill’s sponsor, said the ABLE accounts would be similar to 529 accounts that allow parents to save money for their children’s college expenses.

“It will help people with severe disabilities to save money without exceeding the $2,000 limit that makes them ineligible for public assistance,” Hawkins said.

“There are some in our community who will face challenges the rest of us can never understand,” said Rep. Scot Turner (R-Holly Springs). “By enabling them to save for their own expenses or to pay for their own treatments, we are increasing the opportunity they have to live the American dream.”

© 2016 by The Georgia Report

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Tags: Lee Hawkins , persons with disabilities , savings accounts , Scot Turner