Bill > LB1026

This bill amends the existing law on the Achieving a Better Life Experience (ABLE) program in Nebraska. The key provisions include: 1. Exempting ABLE accounts from any type of legal process, such as levy, execution, judgment, garnishment, or other judicial enforcement, ensuring the assets in these accounts are preserved solely for the designated beneficiary's use. 2. Maintaining the structure of the ABLE Program Fund, ABLE Expense Fund, and Treasury Management Cash Fund, with the State Treasurer investing the funds and covering program administration costs. 3. Specifying that the assets of the ABLE program, excluding the expense and Treasury Management funds, are held in trust for the designated beneficiaries and cannot be used for any other purpose by the state. The bill aims to further protect the ABLE accounts and ensure the funds are used solely for the benefit of the account holders, who are individuals with disabilities.