This bill amends section 77-1407 of the Reissue Revised Statutes of Nebraska to enhance the protections for accounts under the Achieving a Better Life Experience (ABLE) program. The key change is the introduction of new legal language that explicitly exempts any amount in an ABLE account from levy, execution, judgment, garnishment, and other forms of judicial enforcement. This means that funds in these accounts cannot be seized or used to pay debts or liabilities of the account's designated beneficiary or owner, providing greater financial security for individuals with disabilities.

Additionally, the bill outlines the structure and management of the ABLE program funds, including the creation of the ABLE Program Fund and the ABLE Expense Fund, which will be used to manage contributions and cover program costs, respectively. The State Treasurer is tasked with overseeing these funds, ensuring they are invested appropriately, and reporting on financial activities related to the program. The original section 77-1407 is repealed, consolidating the legal framework for the ABLE program under the new provisions.

Statutes affected:
Introduced: 77-1407
Final Reading: 77-1407
Slip Law: 77-1407