HB 768, Georgia’s Achieving a Better Life Experience (ABLE) Act, was passed by the Georgia General Assembly this session and signed into law by Governor Deal on May 3, 2016, thanks to the efforts of a coalition of more than 35 advocacy organizations led by All About Developmental Disabilities (AADD) with the assistance of Autism Speaks and the Georgia Council on Developmental Disabilities (GCDD).
The ABLE Act is a law passed by Congress in December 2014 with strong bipartisan support. It amends the Internal Revenue Code to allow for tax advantaged savings account like the 529 higher education savings accounts we have had in Georgia for many years. The primary purpose of an ABLE account is to allow people with serious disabilities to save for qualified disability expenses without violating the $2,000 asset limits that apply to eligibility for Medicaid, SSI (Supplemental Security Income) and other benefits programs. Thirty-six states have created the legal authority for ABLE account programs.
Reference: All About Developmental Disabilities, Disability Scoop