Committee sends House Bill 26 to the floor to allow Idaho to join national ABLE consortium

BOISE — An Idaho House committee voted to send House Bill 26 to the floor with a do-pass recommendation after testimony from State Treasurer Julie Ellsworth and disability advocates supporting the state’s participation in a national ABLE-account consortium.

Treasurer Julie Ellsworth, appearing before the committee, said the bill would amend Idaho Code section 56-708 to let the Idaho State Treasurer enter into a contract with a national ABLE consortium, establish an ABLE-account advisory council and require financial-literacy outreach to potential account holders. “This legislation makes the Idaho ABLE account program less expensive for participants and provide greater oversight and protection,” Ellsworth said.

ABLE accounts (Achieving a Better Life Experience), created under federal 529A rules, let eligible individuals with disabilities save money for disability-related expenses without jeopardizing means-tested benefits such as Supplemental Security Income (SSI) or Medicaid. Ellsworth and several testifiers told the committee that joining a multi-state consortium spreads administrative overhead and lowers fees for Idaho account holders.

Why it matters: Supporters said…