STAND. COM. REP. NO. 403
RE: H.B. No. 1263
Honorable Scott K. Saiki
Speaker, House of Representatives
Thirty-Second State Legislature
Regular Session of 2023
State of Hawaii
Your Committee on Health & Homelessness, to which was referred H.B. No. 1263 entitled:
"A BILL FOR AN ACT RELATING TO THE HAWAII ABLE SAVINGS PROGRAM,"
begs leave to report as follows:
The purpose of this measure is to:
(1) Authorize the Director of Finance to use funds deposited into the Hawaii ABLE Savings Program Trust Fund for any expenses incurred in developing and administering the Hawaii ABLE Savings Program; and
(2) Establish a position within the State Council on Developmental Disabilities of the Department of Health to support the Hawaii ABLE Savings Program.
Your Committee received testimony in support of this measure from the Executive Office on Aging, Hawaii State Council on Developmental Disabilities, Hawaii Disability Rights Center, Fuller Lives Disability Housing Advocacy, and four individuals.
Your Committee finds that Hawaii ABLE Savings Program is modeled after 529 college savings plans (Section 529 of the Internal Revenue Code), where interest earned on savings will be tax-free. The Hawaii ABLE Savings Program allows individuals with disabilities the same types of flexible savings account that people without disabilities have, such as college savings accounts, health savings accounts, and individual retirement accounts. Furthermore, an ABLE account would enable individuals with a disability to accrue funds to pay for a variety of expenses, such as medical and dental care, education, community-based supports, employment training, assistive technology, housing, and transportation. The position established within the State Council on Developmental Disabilities by this measure will provide outreach and education about the Hawaii ABLE Savings Program and its benefits.
Your Committee has amended this measure by changing the effective date to June 30, 3000, to encourage further discussion.
As affirmed by the record of votes of the members of your Committee on Health & Homelessness that is attached to this report, your Committee is in accord with the intent and purpose of H.B. No. 1263, as amended herein, and recommends that it pass Second Reading in the form attached hereto as H.B. No. 1263, H.D. 1, and be referred to your Committee on Finance.
Respectfully submitted on behalf of the members of the Committee on Health & Homelessness,
DELLA AU BELATTI, Chair