Bill > HB193

This bill modifies Ohio's ABLE (Achieving a Better Life Experience) account program, which helps individuals with disabilities save money without losing eligibility for certain public assistance programs. The bill updates several key provisions, including requiring the Treasurer of State to pay monthly fees associated with ABLE accounts on behalf of account owners or beneficiaries. It clarifies account ownership rules, specifying that a beneficiary may have only one ABLE account and establishing procedures for account management. The bill also expands the STABLE (State Treasury ABLE) account program advisory board's meeting capabilities by allowing members to participate remotely through video conference or teleconference, with specific requirements for public accessibility and documentation. Additionally, the bill includes a $900,000 appropriation to subsidize monthly maintenance fees for STABLE account holders, ensuring that individuals with disabilities can maintain their accounts without incurring additional financial burden. The changes aim to make ABLE accounts more accessible and easier to manage for eligible individuals and their families, while maintaining financial protections and transparency in the program's administration.

Budget and Finance

https://www.legislature.ohio.gov/legislation/136/hb193