North Carolina Council on Developmental Disabilities - NCCDD

FOR IMMEDIATE RELEASE

Devika Rao
678-384-7836
[email protected]

ABLE Act Becomes Law in North Carolina
Governor Signs Bill Allowing People with Disabilities to Setup Savings Accounts

RALEIGH, NC (August 11, 2015) – Governor Pat McCrory today signed into law the ABLE Act, or Achieving a Better Life Experience Act, allowing North Carolina to create tax-deferred savings accounts for people with disabilities and their families.

The ABLE Act allows for families of people with disabilities to save up to $100,000 in a 529 account for disability-related expenses, similar to the tax-deferred accounts used by families for college education. Under current law, people with disabilities and their families cannot save more than $2,000 in their savings accounts without losing supplemental income from the government.

"With the signing of the ABLE Act, individuals with disabilities, their families and guardians can save towards their future care and needs without risking their current benefits," said Chris Egan, executive director of the North Carolina Council on Developmental Disabilities (NCCDD).

The tax-deferred savings would be used extra expenses not covered by Medicaid like transportation, housing, educational or technological necessities that assist people with disabilities. The North Carolina legislation stems from the federal law that passed last year after an eight-year effort by national advocates. Over 50 percent of the states have passed their own version(s) of the bill and are now beginning to implement the program.

"We greatly appreciate Governor Pat McCrory signing the bill into law so the approximately 180,000 people living with intellectual and other developmental disabilities in North Carolina can begin saving and building a more secure future without losing other benefits," said Ron Reeve, chair of NCCDD.

In North Carolina, the ABLE Act was sponsored by:
• Rep. Marilyn Avila (R – District 40)
• Rep. Donny Lambeth (R – District 75)
• Rep. Edward Hanes Jr. (D – District 72)
• Rep. Graig Meyer (D – District 50)
• Senator Tamara Barringer (R – District 17)
• Senator Ralph Hise (R – District 47)
• Senator Tom Apodaca (R – District 48)
• Senator Jeff Jackson (D – District 37)

The North Carolina Council on Developmental Disabilities (NCCDD) works to assure that people with intellectual and developmental disabilities (I/DD) and their families participate in the design of and have access to needed community services, individualized supports and other forms of assistance that promote self-determination, independence, productivity and inclusion in all areas of community life. The Council identifies problems facing its community through its five-year planning process and funds innovative projects and initiatives that promote the goals of the Developmental Disabilities Assistance and Bill of Rights Act (DD Act) for all North Carolinians.
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