Bill > H7687

This bill makes two key changes to state law: first, it amends the Public Assistance Act to exempt individual retirement accounts from being counted as a resource when determining eligibility for public assistance, meaning people can have these retirement savings without losing their eligibility for government aid. Second, it amends the law governing the ABLE (Achieving a Better Life Experience) program, which provides tax-advantaged savings accounts for individuals with disabilities, to prohibit the state from acting as a creditor against an ABLE account after the beneficiary's death, preventing the state from claiming funds from these accounts to recoup costs.

Budget and Finance

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