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Committee refers bill to allow state tax deduction for CalABLE contributions to suspense file
Summary
AB 984 would permit California taxpayers to deduct contributions to CalABLE accounts from state taxable income. CalABLE representatives and an account holder testified about the program’s role for people with disabilities; the bill was placed on the committee’s suspense file.
Assemblymember Wynne presented AB 984, which would allow a state income tax deduction for contributions to CalABLE accounts, the state’s tax-advantaged savings program for people with disabilities.
Thomas Martin, executive director of CalABLE, testified that CalABLE is the primary savings vehicle for many people who receive Supplemental Security Income (SSI) or Social Security Disability Insurance (SSDI). "CalABLE is exempt by federal law, up to a hundred thousand dollars," Martin said, and the deduction would help low-income account holders save for housing, assistive technology and other long-term needs.
Charles Beckham, a CalABLE account holder, and a family representative described how the account helps them plan for future costs related to severe autism and cerebral palsy. Connie Chan, representing California State Treasurer Fiona Ma, spoke as a sponsor.
No witnesses registered opposition. The committee chair announced AB 984 would be referred to the suspense file for fiscal and policy analysis.
