Bill > SB5734

This bill aims to encourage participation in the Washington Achieving a Better Life Experience (ABLE) program, which allows individuals with qualifying disabilities to create tax-advantaged savings accounts. The key provisions of the bill include: 1. Establishing the "Encouraging Achieving a Better Life Experience (ENABLE) Account" to be used for administrative and promotional expenses, reducing or eliminating fees charged to individual ABLE accounts, and depositing $1,000 into each existing and new ABLE account in Washington. 2. Amending existing law to allow the ABLE governing board to contract with an organization to promote and encourage eligible individuals to open ABLE accounts and make contributions. 3. Appropriating $10 million from the general fund to the ENABLE Account for the fiscal year ending June 30, 2024. The purpose of the bill is to increase participation in the ABLE program by providing funding for promotion, reducing individual account fees, and contributing directly to ABLE accounts, thereby helping individuals with disabilities achieve greater self-reliance, employment, and quality of life.