Bill > AB1076

This bill makes several key changes to the California ABLE Program Trust, which helps individuals with disabilities save money through special tax-advantaged accounts. The bill authorizes the California ABLE Act Board to accept grants, gifts, and legislative appropriations from philanthropic entities, and allows the board to target specific subgroups of eligible individuals. The board can now use these funds to encourage people to create ABLE accounts and raise public awareness about the program. Additionally, the bill requires the Franchise Tax Board to include information on tax return instructions about the ability of taxpayers to directly deposit a portion of their tax refund into the California ABLE Program Trust, similar to an existing option for college savings. The ABLE Act (Achieving a Better Life Experience Act) is a federal law that enables people with disabilities to save money in tax-free accounts for qualified disability expenses without losing eligibility for government benefits. This bill aims to expand participation and support for the California ABLE Program by providing more flexible funding mechanisms and increasing public visibility of the program.

Budget and Finance, Health and Social Services

https://leginfo.legislature.ca.gov/faces/billStatusClient.xhtml?bill_id=202520260AB1076