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Hello ABLE supporters and advocates:
My personal apologies for the short notice. As part of our efforts to develop and promote a Maine-based ABLE product, Senator Nate Libby of Lewiston has agreed to sponsor legislation to: 1) prevent Medicaid clawbacks that might deter Mainers from opening and growing ABLE accounts; 2) exempt gains in ABLE accounts from state taxation (as is already true in the federal tax code) and; 3) exempt ABLE accounts from asset tests for other state benefits. Thank you to Senator Libby for sponsoring! LD 1637 An Act To Prevent Medicaid Payment from a Savings Account Established under the Federal ABLE Act - Read the proposed legislation here: http://legislature.maine.gov/legis/bills/bills_129th/billtexts/SP052601.asp The bill will be heard this Thursday at 1 PM at the Health and Human Services Committee, Room 209 of the Cross Office Building in Augusta. You do not need to attend in person to make a difference but you are welcome to attend. I encourage you to submit testimony online here: https://www.mainelegislature.org/testimony/ Or, you may email me testimony at [email protected]. Supportive testimony is best when it is concise, personal, and helpful. Something like: “I encourage the Legislature to pass the bill to give certainty to Maine ABLE account holders and encourage savings.” Do not hesitate to share why an ABLE account will make a difference for you or someone you know. Thank you for your patience and support of the ABLE program. Henry E. M. Beck, Esq. | Maine State Treasurer | Office of the State Treasurer 39 State House Station | Augusta, Maine 04333-0039 Burton M. Cross Building, 111 Sewall Street, 3rd Floor p. 207.624.7477 | TTY Maine Relay 711 | [email protected] www.maine.gov/treasurer | www.maine.gov/upsearch | |
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