Post by Logan on Feb 29, 2016 2:02:55 GMT -6
CHEYENNE – A House bill that aims to provide a better quality of life to people with developmental disabilities cleared a Senate committee Friday.
House Bill 105 is also known as the ABLE Act. It would let the state treasurer establish a new trust program to help individuals and families save money for the purpose of supporting individuals with disabilities in maintaining their health, independence and quality of life.
Rep. Mary Throne, D-Cheyenne, said the ABLE program was recently established by Congress to allow states to set up their own 529 programs for the developmentally disabled.
A reference to the relevant section of the U.S. tax code, a 529 is a tax-advantaged investment vehicle usually meant to encourage saving for the future college expenses of a designated beneficiary. The ABLE Act would do the same, but for the benefit of those with disabilities instead.
Read more: www.wyomingnews.com/news/senate-committee-approves-quality-of-life-bill-for-disabled/article_37f85978-dd1b-11e5-9ed6-f7b5f0a84ce3.html
House Bill 105 is also known as the ABLE Act. It would let the state treasurer establish a new trust program to help individuals and families save money for the purpose of supporting individuals with disabilities in maintaining their health, independence and quality of life.
Rep. Mary Throne, D-Cheyenne, said the ABLE program was recently established by Congress to allow states to set up their own 529 programs for the developmentally disabled.
A reference to the relevant section of the U.S. tax code, a 529 is a tax-advantaged investment vehicle usually meant to encourage saving for the future college expenses of a designated beneficiary. The ABLE Act would do the same, but for the benefit of those with disabilities instead.
Read more: www.wyomingnews.com/news/senate-committee-approves-quality-of-life-bill-for-disabled/article_37f85978-dd1b-11e5-9ed6-f7b5f0a84ce3.html