Gov. Asa Hutchinson signed legislation into law that would allow disabled Arkansans reliant on government assistance to start and run their own savings accounts.
House Bill 1239, known as the "Achieving a Better Life Experience Program Act" by Rep. Julie Mayberry, R-Hensley, would let disabled Arkansans who rely on government assistance to put money in savings accounts to pay for education, job training or medical needs.
On Wednesday, Hutchinson said the bill, which passed both chambers with overwhelming support, was a good and necessary thing to help Arkansans in need.
"This is really an important piece of legislation that allows [for] accumulation of savings for those with disabilities so it doesn't count against the asset test. This is one of those common sense things that should be a way to benefit those families that have extra expenses and to try to save and account for that. I think it's the right thing to do," he said.
The legislation puts Arkansas law and government rules in line with the federal ABLE Act, which passed through the U.S. House of Representatives in December by a 404-17 vote. It had support from Arkansas' entire congressional delegation.
Mayberry said that by current tax law, some disabled Arkansans can be ruled ineligible for public assistance if they have too much money in their savings.
As one national advocacy group, the National Down Syndrome Society, put it, to remain eligible for these public benefits, "an individual must remain poor."
After the bill's signing, Mayberry said that the savings accounts, which will be capped at $14,000, will not go to "trips to Disney World."
"It's money that can help you find a career," she said.
The accounts won't be available until later this year, Mayberry said.
Metro on 04/09/2015