Bill > SB479

This bill modifies the Hawaii ABLE Savings Program, which is designed to help individuals with disabilities save money without losing eligibility for public benefits. The bill repeals previous language that gave the Director of Finance discretion to use funds in the Hawaii ABLE Savings Program Trust Fund only when directly accepting deposits. Instead, it now authorizes the Director to expend funds from the trust fund to provide incentive payments to ABLE (Achieving a Better Life Experience) account owners, with the goal of encouraging more eligible individuals and families to participate in the program. The bill appropriates $75,000 in general revenues to be deposited into the trust fund for fiscal years 2025-2026 and 2026-2027, allocates $13,000 for incentive payments to ABLE account owners, and provides $62,000 to establish a full-time equivalent permanent position within the State Council on Developmental Disabilities to provide statewide outreach, advocacy, and relationship management for the Hawaii ABLE savings program. The new provisions aim to enhance participation in the ABLE savings program and provide better support for individuals with disabilities and their families by creating additional financial incentives and increasing program visibility.

Budget and Finance, Health and Social Services

https://www.capitol.hawaii.gov/session/measure_indiv.aspx?billtype=SB&billnumber=479&year=2025