Date: 04/29/2015

Final
BILL SUMMARY for HB15-1359

SENATE COMMITTEE ON HEALTH & HUMAN SERVICES

Votes: View--> Action Taken:
Refer House Bill 15-1359 to the Committee of the WPASS



12:42 PM -- HB 15-1359

 Senator Kefalas and Senator Martinez Humenik presented House Bill 15-1359, concerning savings programs for persons with disabilities. The reengrossed bill establishes authority in the Colorado Department of Higher Education (DHE) to create the Achieving a Better Life Experience (ABLE) savings program for qualified individuals with disabilities. The ABLE program must comply with the 529A requirements set forth by the Internal Revenue Service and federal securities laws. The bill specifies powers and duties of the DHE to implement the ABLE savings program, including requirements concerning contributions, withdrawals, and account management. Distributions from an ABLE savings program account that are excluded from federally taxable income are also excluded from state taxable income. A handout about the bill was provided to the committee (Attachment A).

150429 AttachA.pdf150429 AttachA.pdf

12:44 PM -- Connor Long, representing himself, spoke in support of the bill. He told the committee about his experience being an ambassador for individuals with disabilities and his desire to continue his education.


12:47 PM -- Angela Baier, CollegeInvest, spoke in support of the bill. She spoke about the existing programs offered by CollegeInvest and responded to questions about how the savings accounts comply with the federal tax code.


12:54 PM

Senator Martinez Humenik and Senator Kefalas made closing comments.
BILL:HB15-1359
TIME: 12:55:35 PM
MOVED:Martinez Humenik
MOTION:Refer House Bill 15-1359 to the Committee of the Whole with a recommendation that it be placed on the Consent Calendar. The motion passed on a vote of 5-0.
SECONDED:
VOTE
Aguilar
Yes
Martinez Humenik
Yes
Newell
Yes
Crowder
Yes
Lundberg
Yes
Final YES: 5 NO: 0 EXC: 0 ABS: 0 FINAL ACTION: PASS