The bill amends sections 113.51 and 113.53 of the Revised Code to enhance the Ohio ABLE account program, which is designed to assist individuals with disabilities in saving for qualified expenses without jeopardizing their eligibility for public assistance. Key provisions include the requirement for the treasurer of state to pay account fees associated with an ABLE account on behalf of account owners or beneficiaries. Additionally, the bill clarifies that money in an ABLE account is exempt from attachment, execution, or garnishment, and is not subject to claims under the Medicaid estate recovery program unless required by federal law.

Furthermore, the bill stipulates that information related to ABLE accounts obtained by the treasurer of state is not considered a public record, thereby enhancing privacy for account holders. The legislation also includes appropriations to subsidize monthly fees incurred by STABLE account holders, ensuring that eligible individuals with disabilities can maintain their accounts without financial burden. Overall, these amendments aim to improve the accessibility and functionality of the Ohio ABLE account program for individuals with disabilities.

Statutes affected:
As Introduced: 113.51, 113.53