On Friday, Dec. 19, President Barack Obama signed the Achieving a Better Life Experience (ABLE) into law.

It was part of a larger bill of end-of-year tax provisions approved by Congress in the closing days of the session.

On Dec. 3, the House of Representatives passed the ABLE Act (H.R. 647) as a free-standing bill by a vote of 404 to 17 (with 13 members not voting). On the same day, the House also passed the ABLE Act as Division B of H.R. 5771, commonly referred to as the tax extenders package (Division A, the Tax Increase Prevention Act of 2014, provides for tax extenders). A vote in the Senate on H.R. 5771, inclusive of the ABLE Act, is expected this week.

The ABLE Act aims to change the tax code to allow for tax advantaged savings accounts for individuals with disabilities for certain expenses, like education, housing, and transportation.

Similar to existing “Section 529” education savings accounts, ABLE accounts would let individuals and families save for disability-related expenses to supplement, but not replace, benefits provided through Medicaid, Supplemental Security Income, the beneficiary’s employment, and other sources.

If properly managed, funds in the ABLE accounts would not jeopardize eligibility for critical federal benefits. With a full understanding of its features, individuals and families could use the ABLE accounts as another tool in planning for the lifetime needs of an individual with long term disabilities.

The version of the bill that passed the House includes age limitations and a cap on contributions, added in July by the Committee on Ways and Means to reduce the costs of the bill. If the ABLE Act becomes law, The Arc will issue a fact sheet reflecting the details of the bill as it has changed through the legislative process. Further details must come through the regulatory process.

 Upcoming Events

•Glow In The Dark Dance — 6 to 8 p.m. on Friday, at the Mower County Senior Center. Cost is $3, Register By Tuesday.

•People First Aktion Club all-you-can-eat chicken dumpling soup and chili supper fundraiser – 4:30 to 7 p.m. Friday, Jan. 23, at the Mower County Senior Center. Cost is $8 for adults and $5 for children ages 4 to 12, children 3 and under are free. Tickets are available now at The Arc office or at the door.

•Polar Bear Plunge – Saturday, Jan. 31, in Owatonna at Lake Kohlmier. Show your support for team 10.MSO Mower County & the Polar Plunge by making a pledge on their pledge-raising profile at https://reg.plungemn.org/team/10msomowercounty!

 Jamey Helgeson is the Program Director at The Arc Mower County and can be reached at jamey@thearcmc.org or by calling 507-433-8994, Extension 102. You can also visit our website (www.thearcmc.org) and follow us on Facebook (www.facebook.com/thearcmc).