Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
Get email alerts on the Disability Financial Security topic
No spam. Unsubscribe anytime.
Assembly committee advances bill allowing CalABLE to accept philanthropic funds and expand outreach
Summary
The Assembly Committee on Revenue and Taxation voted 5-0 to send AB 1076, which would allow the CalABLE board to accept philanthropic and legislative funds and require CalABLE information on state tax instructions, to the Appropriations Committee.
AB 1076, introduced by Assemblymember LaTasha Addis, cleared the Assembly Committee on Revenue and Taxation on a 5-0 vote and was referred to the Appropriations Committee.
The bill would authorize the CalABLE board — California's implementation of the federal ABLE program — to accept grants, gifts and legislative appropriations and to use those funds for outreach to increase account enrollment. CalABLE accounts are tax-advantaged accounts that allow people with disabilities to save without jeopardizing eligibility for means-tested benefits such as Supplemental Security Income (SSI).
Assemblymember Addis told the committee AB 1076 “will strengthen the CalABLE program, expanding its reach to empower more individuals with disabilities to save for the future.” Connie Chan, legislative manager for the California State Treasurer (the Treasurer chairs the CalABLE board), told the committee CalABLE has “over 13,000 accounts with $180,000,000 in assets” but serves less than 1% of eligible Californians and has limited outreach resources.
The bill would also require information about CalABLE to be included in state tax return instructions to raise awareness among eligible taxpayers, modeled on prior outreach used for the ScholarShare college savings plan. Supporters argued the combination of philanthropic funds and tax-form outreach would help close an information gap: Chan cited a state treasurer survey that found just 22.6% of respondents with a disability were familiar with CalABLE.
There were no witnesses or registered opposition who spoke against the bill in committee. After a brief procedural close, the committee secretary called the roll: Gibson, DeMeo, Garcia, McKinner and Quirk Silva recorded aye votes. The clerk announced the bill “passed to Appropriations, 5 to 0.”
The bill now goes to the Appropriations Committee, where its fiscal impacts will be considered in more detail.
