Stephens Joins House in Passing ABLE Savings Account Legislation
7/1/2015
HARRISBURG-- Rep. Todd Stephens (R-Montgomery) joined colleagues in passing legislation to help families facing the financial stress of caring for individuals with disabilities.

House Bill 1319 would create a tax-free savings account in the Commonwealth to help cover qualified expenses like education, housing and transportation for individuals with disabilities. These savings accounts are commonly referred to as ABLE savings accounts.

“Families caring for children and adults with special needs have distinctive financial burdens that require our help,” Stephens said. “By allowing their savings to grow tax-free, we’re allowing them to build up extra money that will be used exclusively for costs associated with that care.”

Stephens introduced similar legislation, but then worked with a bipartisan group of legislators, including Reps. Tom Murt (R-Montgomery/Philadelphia) and Dan Miller (D-Allegheny) to incorporate his ideas within legislation ultimately introduced by Jim Marshall (R-Beaver/Butler).

The legislation is intended to supplement, not supplant, benefits provided to individuals with disabilities and provide a mechanism for their families to prepare for their long-term care.

It will allow for an account to be established that is similar to a PA 529 account used for college savings, and will follow all of the requirements and regulations of a traditional 529-qualified tuition program account.

“This legislation is critical in giving parents and caregivers an additional tool for planning for the future expenses of an individual with disabilities,” Stephens said. “I urge my colleagues in Senate to pass it and send it on to the governor.”

Representative Todd Stephens
151st District
Pennsylvania House of Representatives
Media Contact: David Foster
267.207.0207
dfoster@pahousegop.com
RepToddStephens.com/ Facebook.com/RepToddStephens
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