§ 42-7.2-20.1. ABLE accounts.
(a) Legislative findings. The general assembly finds and declares the following:
(1) Blind and disabled persons of this state need not only state financial assistance, but also private financial assistance in achieving a better life experience.
(2) A federal program exists that allows disabled individuals to make contributions and receive contributions from contributors that may be deposited in an account for their care which amount can grow free of any income tax consequences so long as the contributions are used for qualifying disability expenses pursuant to 26 U.S.C. § 529A.
(3) These accounts may be utilized by disabled individuals for disbursements relating to education, housing, transportation, employment training and support, assistive technology and personal support services, health prevention and wellness, financial management and administrative services, legal fees, expenses for oversight and monitoring, funeral and burial expenses, and other expenses approved under regulations promulgated by the Secretary of the Treasury.
(4) This federal program is found to be a financial option worthy of consideration by persons of this state with disabilities.
History of Section.P.L. 2015, ch. 158, § 1; P.L. 2015, ch. 187, § 1.
Structure Rhode Island General Laws
Title 42 - State Affairs and Government
Chapter 42-7.2 - Office of Health and Human Services
Section 42-7.2-1. - Statement of intent.
Section 42-7.2-2. - Executive office of health and human services.
Section 42-7.2-3. - Secretary of health and human services — Appointment.
Section 42-7.2-4. - Responsibilities of the secretary.
Section 42-7.2-5. - Duties of the secretary.
Section 42-7.2-6. - Departments assigned to the executive office — Powers and duties.
Section 42-7.2-6.1. - Transfer of powers and functions.
Section 42-7.2-7. - Independent advisory council — Purposes.
Section 42-7.2-8. - Assignment and reassignment of advisory bodies.
Section 42-7.2-9. - Appointment of employees.
Section 42-7.2-10. - Appropriations and disbursements.
Section 42-7.2-11. - Rules and regulations.
Section 42-7.2-12. - Repealed.
Section 42-7.2-12.1. - Repealed.
Section 42-7.2-13. - Severability.
Section 42-7.2-14. - Cooperation of other state executive branch agencies.
Section 42-7.2-15. - Applicability.
Section 42-7.2-16. - Medicaid System Reform 2008.
Section 42-7.2-16.1. - Reinventing Medicaid Act of 2015.
Section 42-7.2-17. - Statutory reference to the office of health and human services.
Section 42-7.2-18. - Program integrity division.
Section 42-7.2-18.1. - Professional responsibility — Criminal records check for high-risk providers.
Section 42-7.2-18.3. - Professional responsibility — Criminal records check for personal care aides.
Section 42-7.2-19. - HIV Care Grant rebate account.
Section 42-7.2-20.1. - ABLE accounts.
Section 42-7.2-20.2. - Definitions.
Section 42-7.2-20.3. - Creation of program.
Section 42-7.2-20.4. - Contributions to be held in trust.
Section 42-7.2-20.5. - Rules and regulations.
Section 42-7.2-20.6. - Tax-exempt earnings.
Section 42-7.2-20.7. - State and local means-tested programs.