The bill amends Section 42-7.2-20.8 of the General Laws concerning the ABLE (Achieving a Better Life Experience) program, which provides financial support for individuals with disabilities. The new legal language inserted into the law states that funds in the ABLE program are exempt from creditor processes, meaning they cannot be seized or used to pay debts or liabilities of the account holder. Additionally, the bill removes the previous provision that allowed the state of residency of a designated beneficiary to claim funds from an ABLE account upon the beneficiary's death.

The bill further specifies that, upon the death of a designated beneficiary, state agencies or instrumentalities cannot seek reimbursement from the ABLE savings trust account for benefits provided to the beneficiary, except as mandated by federal law. This change aims to protect the financial assets of disabled individuals and their families, ensuring that their savings are preserved for their intended purpose. The act will take effect immediately upon passage.