The bill amends sections 113.51 and 113.53 of the Revised Code to enhance the administration and benefits of Ohio ABLE accounts, which are savings accounts for individuals with disabilities. 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. The bill also ensures that information related to ABLE accounts is not considered public record.

Furthermore, the bill includes an appropriation of $900,000 for the STABLE Maintenance Fee Subsidy, which is intended to subsidize monthly fees incurred by STABLE account holders who are eligible individuals with disabilities. This funding is part of the operating appropriations for fiscal years 2025 and 2026, and it aims to alleviate the financial burden on account holders, thereby promoting the use of ABLE accounts for individuals with disabilities in Ohio.

Statutes affected:
As Introduced: 113.51, 113.53