STAND. COM. REP. NO. 3294
Honolulu, Hawaii
RE: H.B. No. 2556
H.D. 2
S.D. 1
Honorable Ronald D. Kouchi
President of the Senate
Thirty-Second State Legislature
Regular Session of 2024
State of Hawaii
Sir:
Your Committee on Health and Human Services, to which was referred H.B. No. 2556, H.D. 2, entitled:
"A BILL FOR AN ACT RELATING TO THE HAWAII ABLE SAVINGS PROGRAM,"
begs leave to report as follows:
The purpose and intent of this measure is to:
(1) Clarify the sources of funding for the Hawaii ABLE Saving Program Trust Fund;
(2) Authorize the Director of Finance to expend all moneys in the trust fund to fulfill the purposes of the Hawaii ABLE Savings Program, including providing incentive payments to Hawaii public school ABLE account owners; and
(3) Appropriate funds.
Your Committee received testimony in support of this measure from the Department of Budget and Finance, Executive Office on Aging, State Council on Developmental Disabilities, Disability and Communication Access Board, Special Education Advisory Council, Hawaii Disability Rights Center, and six individuals.
Your Committee finds that Act 206, Session Laws of Hawaii 2015, established the Hawaii ABLE Savings Program, which is modeled after certain college savings plans where interest grows tax free and allows individuals with disabilities the same types of flexible savings accounts as those individuals without disabilities, such as college, health, and individual retirement accounts. Presently, there are approximately twenty-three thousand individuals with disabilities statewide who are eligible to open an ABLE Savings Program account. As savings accounts can prepare individuals and their families for future educational, professional, and life goals, ensuring dedicated resources through statewide outreach, advocacy, and relationship management are needed. Therefore, this measure increases the staffing resources to promote the ABLE Savings Program to ensure vulnerable populations can pursue all available resources to achieve a better life experience.
Your
Committee has amended this measure by:
(1) Inserting an effective date of December 31,
2050, to encourage further
discussion; and
(2) Making
technical, nonsubstantive amendments for the purposes of clarity and
consistency.
Your Committee notes that this measure contains unspecified appropriation amounts for the Hawaii ABLE Savings Program and an unspecified number of full-time equivalent positions to support this program. Your Committee respectfully requests the various departments determine appropriation amounts for subsequent committees to consider as this measure moves through the legislative process.
As affirmed by the record of votes of the members of your Committee on Health and Human Services that is attached to this report, your Committee is in accord with the intent and purpose of H.B. No. 2556, H.D. 2, as amended herein, and recommends that it pass Second Reading in the form attached hereto as H.B. No. 2556, H.D. 2, S.D. 1, and be referred to your Committee on Ways and Means.
Respectfully submitted on behalf of the members of the Committee on Health and Human Services,
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________________________________ JOY A. SAN BUENAVENTURA, Chair |
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