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 claims under the Medicaid estate recovery program and establishes that information related to ABLE accounts is not considered public record.

The bill also creates the STABLE account program advisory board, which will consist of nine members with various backgrounds related to disabilities and finance. This board will review the program's operations, advise the treasurer, and make recommendations for improvements. The bill includes provisions for remote participation in board meetings and outlines the board's responsibilities, including preparing annual reports on its activities. Furthermore, the bill appropriates funds to subsidize monthly fees incurred by STABLE account holders, ensuring that eligible individuals with disabilities can maintain their accounts without financial burden.

Statutes affected:
As Introduced: 113.51, 113.53, 113.56