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NebraskaLB592109th Legislature 1st and 2nd Sessionslegislature

Change provisions relating to the achieving a better life experience program

Sponsored By: Beau Ballard

Signed by Governor

Revenue Committee

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Bill Overview

Analyzed Economic Effects

3 provisions identified: 1 benefits, 0 costs, 2 mixed.

Stronger protections for ABLE account money

ABLE savings are held in trust for the beneficiary. The State has no ownership of these assets. Money in an ABLE account cannot be taken by creditors or by court order. It is protected from levy, garnishment, judgment, or seizure. Funds are used only for ABLE program purposes.

Rules for Nebraska ABLE savings accounts

Nebraska creates the ABLE Program Fund with separate accounts for each beneficiary. All contributions must be cash. Beneficiaries cannot choose how the money is invested; the State Investment Officer invests it under state law. You can use the money only for qualified disability expenses.

How Nebraska funds ABLE program costs

The State Treasurer credits ABLE money into three funds: Program, Expense, and Treasury Management Cash. Fees on ABLE accounts pay program costs, and a share is moved to pay investment managers. Until fees make the program self-sustaining, startup and operating costs are paid from the Treasury Management Cash Fund, with legislative approval for transfers. The Treasurer reports yearly transfer amounts to the budget office and the Legislative Fiscal Analyst.

Sponsors & Cosponsors

Sponsor

  • Beau Ballard

    Senate

Cosponsors

There are no cosponsors for this bill.

Roll Call Votes

All Roll Calls

Yes: 87 • No: 0

legislature vote • 4/3/2025

Final Reading

Yes: 47 • No: 0 • Other: 2

legislature vote • 2/27/2025

Vote

Yes: 40 • No: 0 • Other: 9

Actions Timeline

  1. Approved by Governor on April 7, 2025

    4/7/2025legislature

  2. Presented to Governor on April 3, 2025

    4/3/2025legislature

  3. President/Speaker signed

    4/3/2025legislature

  4. Passed on Final Reading 47-0-2

    4/3/2025legislature

  5. Placed on Final Reading

    3/19/2025legislature

  6. Advanced to Enrollment and Review for Engrossment

    3/11/2025legislature

  7. Placed on Select File

    3/5/2025legislature

  8. Advanced to Enrollment and Review Initial

    2/27/2025legislature

  9. Placed on General File

    2/11/2025legislature

  10. Notice of hearing for February 05, 2025

    1/28/2025legislature

  11. Referred to Revenue Committee

    1/24/2025legislature

  12. Date of introduction

    1/22/2025legislature

Bill Text

  • Introduced

    1/22/2025

    PDF

  • Enrolled / Slip Law

    PDF

  • Final / Enacted

    PDF

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