NEW CITY – Senator David Carlucci (D, New City) is calling for passage of the ABLE Act, which would allow people with disabilities and their families the opportunity to create a tax-exempt savings account that could be used for maintaining, health, independence and quality of life.
In December 2014, the federal government passed the Achieving a Better Life Experience, also known as the ABLE Act. That legislation allows family members or caregivers to save money tax-free for a loved one who has a disability. In order for New York to participate in the program, it must pass its own legislation.
Carlucci said the legislation “provides us with a real opportunity to make a difference in the lives of people with disabilities.”
Twenty-five other states have passed state ABLE Acts. Doing the same in New York would enable residents with disabilities and their families to “save for the future, explore more employment opportunities and live full, meaningful lives,” said Carmine Marchionda, executive director of the ARC of Rockland County.
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