Several hundred people rallied inside the state Capitol throughout the day on Wednesday to advocate for disability rights and to celebrate the signing of the ABLE Act.
Leonard Boyle, who sits on the Governor’s Commission on People with Disabilities, said it will remove a cap on savings accounts tied to eligibility for benefits, establishing tax-free accounts intended for care-related spending and to encourage independent living.
“Well, according to the Social Security Administration if you’re on SSI or SSDI you can not have a savings account that is above $2,000,” said Boyle.
The new law allows accounts to hold up to $100,000 without factoring into asset thresholds used to determine eligibility for some disability benefits.
Lieutenant Governor Tim Griffin (R) told the assembled that when he served as a Congressman he supported a federal law allowing the change at the state level.
“It didn’t stop there. The state’s had an obligation to act and pass enabling legislation. You know what, we can celebrate that because the governor is signing that and it will give additional tools to folks living with disabilities so they can be more financially independent and make more decisions,” said Griffin.
Governor Asa Hutchinson (R) signed the bill into law several hours after Griffin’s remarks. The legislation is estimated to cost around $25,000 when implemented in 2017. The legislation passed without a single floor vote cast in opposition in the Senate and House.
