May 5, 2015, Introduced by Reps. Jenkins, Forlini, Irwin, Victory, Poleski, Lucido, Howrylak, Derek Miller, Liberati, Lane, LaVoy, Geiss, Hooker and Courser and referred to the Committee on Financial Services.
A bill to amend 1939 PA 280, entitled
"The social welfare act,"
(MCL 400.1 to 400.119b) by adding section 10g.
THE PEOPLE OF THE STATE OF MICHIGAN ENACT:
Sec. 10g. (1) For any assistance program for which financial
eligibility is determined under this act, the department shall
disregard in its financial eligibility determination money
associated with a designated beneficiary's ABLE savings account,
including, but not limited to, all of the following:
(a) Money in a designated beneficiary's ABLE savings account.
(b) Earnings on money in a designated beneficiary's ABLE
savings account.
(c) Contributions to a designated beneficiary's own ABLE
savings account.
(d) Distributions from an ABLE savings account for the
designated beneficiary's qualified disability expenses.
(2) As used in this section, "ABLE savings account",
"designated beneficiary", and "qualified disability expenses" mean
those terms as defined in section 2 of the Michigan achieving a
better life experience (ABLE) program act.
Enacting section 1. This amendatory act takes effect 90 days
after the date it is enacted into law.
Enacting section 2. This amendatory act does not take effect
unless all of the following bills of the 98th Legislature are
enacted into law:
(a) Senate Bill No.____ or House Bill No. 4542 (request no.
01151'15 **).
(b) Senate Bill No.____ or House Bill No. 4543 (request no.
01151'15 a **).
(c) Senate Bill No.____ or House Bill No. 4541 (request no.
01151'15 c *).