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NebraskaLB592109th Legislature 1st and 2nd SessionslegislatureWALLET

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

4 provisions identified: 2 benefits, 1 costs, 1 mixed.

How Nebraska manages ABLE savings

The State Treasurer holds ABLE money in trust in three funds: the ABLE Program Fund, the ABLE Expense Fund, and the Treasury Management Cash Fund. The state investment officer invests program money under Nebraska Investment Council policies. The three funds are run separately under state accounting rules. Fees in the ABLE Expense Fund pay program costs. Your deposits and earnings are kept in separate accounts inside the ABLE Program Fund.

Spend ABLE savings on disability needs

If you have an ABLE account, you can spend your savings on qualified disability expenses. Withdrawals must follow ABLE program rules.

Cash-only ABLE deposits, no investment control

You can only put cash into a Nebraska ABLE account. You cannot choose how the program invests your contributions or earnings. Program managers make the investment choices.

Old ABLE statute language replaced

The law repeals the prior ABLE statute section and replaces it with updated language in this act. This is an administrative update.

Sponsors & Cosponsors

Sponsor

  • Beau Ballard

    legislature

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

    4/8/2025legislature

  2. Passed on Final Reading 47-0-2

    4/3/2025legislature

  3. President/Speaker signed

    4/3/2025legislature

  4. Presented to Governor on April 3, 2025

    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

    4/8/2025

    PDF

  • Enrolled / Slip Law

    PDF

  • Final / Enacted

    PDF

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