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Bill

H 26

ABLE ACCOUNTS – Amends and adds to existing law to provide for ABLE accounts in the state and to establish an ABLE account advisory council.

68th Legislature, 1st Regular Session (2025)

House Bill 26 expands Idaho's ABLE accounts for individuals with disabilities, promoting financial independence while protecting eligibility for assistance programs.

Reported Signed by Governor on March 11, 2025 Session Law Chapter 35 Effective: 07/01/2025
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Bill Summary · H 26

Summary of House Bill 26 (H 26) - ABLE Accounts

Overview

House Bill 26 (H 26) aims to amend and expand existing laws in Idaho to establish and enhance the state's ABLE (Achieving a Better Life Experience) account program. This legislation is designed to provide individuals with disabilities greater opportunities for financial independence and to create an advisory council to oversee the program.

Purpose and Intent

The primary goals of H 26 are to:
- Facilitate financial independence for Idahoans with disabilities by allowing them to open ABLE accounts.
- Provide oversight and support for these accounts through the establishment of an ABLE Account Advisory Council.
- Enhance financial literacy and outreach efforts to ensure individuals with disabilities are informed about their options.

Key Provisions

  1. Amendment of Existing Law:

    • The bill amends Section 56-708 of the Idaho Code to allow the Idaho State Treasurer to enter into agreements with a national consortium of ABLE accounts, making it easier for residents to access these accounts.

  2. Establishment of the ABLE Account Advisory Council:

    • A new section (56-709) is added to create an advisory council consisting of:
      • The State Treasurer (Chair)
      • The Executive Director of the Idaho State Independent Living Council (ex officio)
      • Appointed members with expertise in disabilities, education, and veteran affairs.
    • The council will meet quarterly and advise on policies to improve outreach and education about the ABLE account program.

  3. Financial Literacy Outreach:

    • The Idaho State Treasurer and the Idaho State Independent Living Council will conduct outreach to educate individuals with disabilities about ABLE accounts and financial literacy.

  4. Protection of Eligibility:

    • The bill ensures that ABLE accounts will not affect eligibility for state or local assistance programs, aligning with federal guidelines.

Impact

  • Who is Affected:

    • Individuals with disabilities in Idaho who wish to save for qualified expenses related to education, housing, transportation, and more.
    • Families of individuals with disabilities, as they can now better plan for financial needs without jeopardizing assistance eligibility.

  • Fiscal Impact:

    • The legislation is noted to have no fiscal impact on state or local revenues or expenditures.

Timeline

  • Introduced: January 21, 2025
  • Signed by Governor: March 11, 2025
  • Effective Date: July 1, 2025

Conclusion

House Bill 26 represents a significant step toward enhancing financial opportunities for individuals with disabilities in Idaho. By establishing an ABLE account program and an advisory council, the bill aims to promote financial independence and provide necessary support and education to those affected.

Compiled from official sources — confirm details with the bill’s official record.

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