BILL NUMBER:  S7882

 TITLE OF BILL :

An act to amend the mental hygiene law, in relation to the
implementation of the New York achieving a better life experience (NY
ABLE) savings account act

 PURPOSE OF THE BILL :

This bill would facilitate access to ABLE accounts for individuals
with developmental disabilities and their families.

 SUMMARY OF PROVISIONS :

This bill would authorize the comptroller to enter into a contract
with the existing third party administrator of the NYS College Choice
Tuition Savings Program for the purpose of administering the NY
Achieving a Better Life Experience (ABLE) savings account program and
providing account depositories and managers. The term of such contract
would expire on the same date as the contract for the administration
of the NYS College Choice Tuition Savings Program.  Upon the
expiration of such contract, the comptroller may solicit proposals for
the purpose of administering the NY ABLE savings account program and
the NYS College Choice Tuition Savings Program.  Additionally, the
comptroller may choose to allow the programs to be administered
              

jointly or separately.

 STATEMENT IN SUPPORT :

On December 19th, 2014, President Barack Obama signed into law the
Achieving a Better Life Experience (ABLE) Act, authorizing states to
establish ABLE savings accounts for qualified individuals with
disabilities.

Chapter 576 of the laws of 2015 authorized New York State to establish
a NY ABLE Savings Account Program that would allow qualified
individuals with developmental disabilities to save funds for
non-Medicaid reimbursable expenses during their adult lives. The funds
would accrue interest tax-free and would not be a factor in Medicaid
eligibility. This law also allows the comptroller to contract with a
3rd party vendor in order to administer the ABLE program.

As New York continues to place greater emphasis on community-based
services for individuals with disabilities, the State must utilize all
available tools to promote independence, and provide access to such
tools in an efficient and timely manner. This bill would accelerate
the implementation of the New York State ABLE savings account program
by authorizing the Comptroller to enter into a contract with the
existing third party administrator of the NYS College Choice Tuition
Savings Program for the purpose of administering the NY ABLE Savings
Account Program and provide the Comptroller with the option to permit
the programs to be administered jointly or separately by a 3rd party
vendor.

 PRIOR LEGISLATIVE HISTORY :

This is a new bill.

 BUDGET IMPLICATIONS :

Undetermined.

 EFFECTIVE DATE :
Immediate.