Rep. Schaibley: Legislation helping Hoosiers with disabilities signed into law

Posted by: Hannah Carlock  | Monday, March 21, 2016 4:30 pm

Legislation helping Hoosiers with disabilities signed into law

STATEHOUSE (March 21, 2016) – The ABLE Care Act, co-sponsored by State Rep. Donna Schaibley (R-Carmel), was signed into law today by Gov. Mike Pence.

In 2013, the federal government enacted the Achieving a Better Life Experience (ABLE) Act, allowing people with disabilities to set up tax-free savings accounts that do not impact their means-tested public assistance benefits. The money in these savings accounts may be used to pay for services including medical and dental care, education, employment training, housing and transportation.

“Indiana is establishing a state ABLE Act under this new law,” Schaibley said. “This act aims to ease financial strains faced by individuals with disabilities by allowing them to establish tax-free savings accounts to cover qualified expenses such as education, housing and transportation.”

According to Schaibley, the ABLE Act provides individuals with disabilities the same types of flexible savings tools that all other Americans have through college savings accounts, health savings accounts and individual retirement accounts.

The new law will take effect on July 1, 2016. For more information on this law visit www.iga.in.gov.

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Rep. Schaibley (R-Carmel) represents portions of Boone and Hamilton counties

NOTE TO THE EDITOR: Pictured below and attached is a picture of State Rep. Donna Schaibley (R-Carmel) with fellow lawmakers and Gov. Mike Pence signing the ABLE Act into law.