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Bill

36-0035

An Act amending title 15 Virgin Islands Code, article V to allow the Government of the Virgin Islands to implement the federal mandate of the Stephen J. Beck, Jr., Achieving Better Life Experiences, which provides for the establishment of savings accounts for persons with disabilities

2025-2026 Regular Session

Virgin Islands implements federal ABLE Act allowing disabled residents to save money without losing federal disability benefits like Medicaid and SSI.

Sent to Lt. Governor
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WeVote Research Nonpartisan
Bill Summary · 36-0035

Legislative bill overview

Bill 36-0035 amends Virgin Islands Code to enable the territory to implement the federal ABLE Act (Achieving a Better Life Experience), which allows individuals with disabilities to establish tax-advantaged savings accounts. The bill updates local law to comply with this federal mandate and provide eligible residents access to these specialized financial accounts.

Why is this important

ABLE accounts allow people with disabilities to accumulate up to $17,000 annually (and $235,540 total) without losing means-tested federal benefits like SSI and Medicaid—a critical barrier that previously forced disabled individuals to choose between saving money and maintaining healthcare coverage. This legislation expands financial independence and economic security for a vulnerable population in the Virgin Islands who previously lacked this option.

Potential points of contention

  • Implementation costs: The government must establish administrative infrastructure and oversight mechanisms to manage these accounts, requiring operational resources and staff training
  • Coordination complexity: The bill requires alignment with federal regulations and IRS rules, creating potential compliance and interpretation challenges for local administrators
  • Access equity: Success depends on whether eligible residents are aware of the program and whether financial institutions in the territory actively participate in offering ABLE accounts

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

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