Governor Chris Sununu Statement on ABLE Savings Accounts
Concord, NH – Today, Governor Chris Sununu issued the following statement after the Executive Council voted to authorize the ability for New Hampshire to enter into an agreement with the State of Ohio for the establishment and administration of a qualified Achieving a Better Life Experience (ABLE) savings account program in New Hampshire.
“Today is a great day for New Hampshire,” said Governor Chris Sununu. “We have opened access to opportunities for those with a disability, ensuring increased independence and financial security. I commend Senator Bradley and Representative Ober for their tireless efforts in bringing the ABLE program to New Hampshire, and would like to thank the Executive Council for their approval today.”
Background: In 2014, federal legislation known as the Stephen Beck, Jr. Achieving a Better Life Experience Act of 2014 (ABLE Act) was enacted, which allows individuals with qualifying disabilities to establish tax-free savings accounts to cover qualified expenses without impacting the individual's eligibility for benefits programs. In 2016, under the leadership of Senator Jeb Bradley and Representative Lynne Ober, New Hampshire enacted SB 265 into law. The legislation authorizes the establishment of an ABLE savings account program in New Hampshire. Those interested in learning more can contact the Governor’s Commission on Disability or the New Hampshire State Treasurer’s office.