The bill amends sections 113.51, 113.53, and 113.56 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 all monthly 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 establishes the STABLE account program advisory board, which will consist of nine members with diverse backgrounds related to disabilities and finance. This board will review the program's operations, advise the treasurer, and make recommendations for improvements. Furthermore, the bill allows for remote participation in board meetings via interactive video conference or teleconference, ensuring accessibility while maintaining public transparency. An appropriation of $900,000 for the STABLE Maintenance Fee Subsidy is included to cover the costs of monthly fees incurred by eligible individuals with disabilities.

Statutes affected:
As Introduced: 113.51, 113.53, 113.56