CaliforniaQualified ABLE Program: CalABLE accounts: funding.
What it does
(1) Existing federal law, the Stephen Beck, Jr., Achieving a Better Life Experience Act of 2014 (ABLE Act), encourages and assists individuals and families to save private funds for the purpose of supporting eligible individuals with disabilities to maintain their health, independence, and quality of life by excluding from gross income distributions used for qualified disability expenses by a beneficiary of a Qualified ABLE Program established and maintained by a state, as specified.
More detail
Existing law establishes the Qualified ABLE Program for purposes of implementing the federal ABLE Act in this state, and creates the California ABLE Program Trust with the purposes, powers, and duties of the trust to be vested in and exercised by the California ABLE Act Board. Existing law requires the board to segregate the moneys coming into the ABLE program trust into 2 funds: the program fund, which is continuously appropriated, for specified purposes of the act, and the administrative fund, which is available upon appropriation by the Legislature for administration of the act. Existing law requires all moneys paid by designated beneficiaries or eligible individuals in connection with ABLE accounts to be deposited, as received, into the program fund, promptly invested, and accounted for separately. Existing law grants the board the power to accept grants, gifts, appropriations, and other moneys from any unit of federal, state, or local government, among other specified entities, for deposit to specified funds.
This bill would authorize the California ABLE Act Board to additionally accept grants, gifts, legislative appropriations, and other moneys from a philanthropic entity, and would specify that the program can receive legislative appropriations. The bill would authorize the board to target specific subgroups of eligible individuals, as specified, and would authorize the board to use those moneys received to encourage eligible individuals to create an ABLE account or maximize account participation by engaging public awareness about the program. By authorizing new uses of moneys in a continuously appropriated fund, the bill would make an appropriation.
(2) Existing law requires the Franchise Tax Board to include, on a taxpayer's form instructions for filing a return, information about the ability of a taxpayer to directly deposit a portion of their refund into the Golden State Scholarshare College Savings Trust, as specified.
This bill would additionally require the Franchise Tax Board to include, on a taxpayer's form instructions for filing a return, information about the ability of a taxpayer to directly deposit a portion of their refund into the California ABLE Program Trust.
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Where it stands
- Introduced
- Passed Assembly
- Passed Senate
- To Governor
- Became Law
Looking ahead
No hearings or votes scheduled.
History
- 2025
- Oct 13Chaptered by Secretary of State - Chapter 722, Statutes of 2025.Latest
- Oct 13Approved by the Governor Gavin Newsom.Became Law
- Sep 15Enrolled and presented to the Governor at 4:30 p.m.To Governor
- Sep 8Senate amendments concurred in. To Engrossing and Enrolling. (Ayes 79. Noes 0. Page 3036.).Major
- Vote recorded AB 1076 Addis Concurrence in Senate Amendments. Result: pass.Lower
- Sep 4In Assembly. Concurrence in Senate amendments pending.
- Vote recorded Special Consent. Result: pass.Upper
- Sep 4Read third time. Passed. Ordered to the Assembly. (Ayes 39. Noes 0. Page 2523.).Passed Senate
- Sep 2Ordered to special consent calendar.
- Aug 29Read second time. Ordered to third reading.Minor
- Vote recorded Do pass. Result: pass.Upper
- Aug 29From committee: Do pass. (Ayes 7. Noes 0.) (August 29).Minor
- Aug 18In committee: Referred to suspense file.Minor
- Vote recorded Placed on suspense file. Result: pass.Upper
- Jul 9From committee: Do pass and re-refer to Com. on APPR. with recommendation: To Consent Calendar. (Ayes 5. Noes 0.) (July 9). Re-referred to Com. on APPR.Minor
- Vote recorded Do pass, but first be re-referred to the Committee on [Appropriations] with the recommendation: To Consent Calendar. Result: pass.Upper
- Jul 2From committee chair, with author's amendments: Amend, and re-refer to committee. Read second time, amended, and re-referred to Com. on REV. & TAX.Major
- Jul 1From committee: Do pass and re-refer to Com. on REV. & TAX. (Ayes 5. Noes 0.) (June 30). Re-referred to Com. on REV. & TAX.Minor
- Jun 30
- Vote recorded Do pass, but first be re-referred to the Committee on [Revenue and Taxation]. Result: pass.Upper
- Jun 18Referred to Coms. on HUMAN S. and REV. & TAX.Minor
- Jun 4In Senate. Read first time. To Com. on RLS. for assignment.Minor
- Vote recorded AB 1076 Addis Assembly Third Reading. Result: pass.Lower
- Jun 3Read third time. Passed. Ordered to the Senate. (Ayes 79. Noes 0. Page 2012.)Passed Assembly
- May 27Read second time. Ordered to third reading.Minor
- May 23Read second time and amended. Ordered returned to second reading.Major
- Vote recorded Do pass as amended. Result: pass.Lower
- May 23From committee: Amend, and do pass as amended. (Ayes 11. Noes 0.) (May 23).Major
- May 23Assembly Rule 63 suspended. (Ayes 51. Noes 16. Page 1644.)
- Apr 23In committee: Set, first hearing. Referred to suspense file.Minor
- Apr 8From committee: Do pass and re-refer to Com. on APPR. (Ayes 6. Noes 0.) (April 7). Re-referred to Com. on APPR.Minor
- Apr 7
- Vote recorded Do pass and be re-referred to the Committee on [Appropriations]. Result: pass.Lower
- Apr 1Re-referred to Com. on REV. & TAX.Minor
- Mar 28From committee chair, with author's amendments: Amend, and re-refer to Com. on REV. & TAX. Read second time and amended.Major
- Mar 17Referred to Com. on REV. & TAX.Minor
- Feb 21From printer. May be heard in committee March 23.
- Feb 20Read first time. To print.Introduced