AN ACT CONCERNING THE ABLE ACT.

SB 1476 updates Connecticut’s laws to align with the federal ABLE Act, creating a state-run program for individuals with disabilities. It directly affects people under age 26 who qualify for disability benefits under federal Social Security (Title II or XVI), allowing them to open tax-advantaged savings accounts. The bill establishes clear definitions for "ABLE accounts," "qualified disability expenses" (like education, medical care, and assistive technology), and the process for eligibility certification. The State Treasurer must create and manage this program, enabling beneficiaries to save for disability-related costs without risking loss of government benefits.