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Nevada Gov. Sisolak signs ABLE accounts bill into law

Creating incentives to help those with disabilities
Posted at 9:04 PM, Apr 21, 2021
and last updated 2021-04-22 00:04:44-04

CARSON CITY (KTNV) — Today, Governor Steve Sisolak signed Assembly Bill 62.

Assembly Bill 62 authorizes the Nevada state treasurer’s office to create regulations for ABLE accounts to incentivize the opening of new accounts, and regular deposits.

An ABLE account is a tax-advantaged savings account that can fund disability expenses and Nevada is the first state in the nation to pass this type of legislation.

This bill will allow the treasurer’s office to seek out gifts, grants, and donations to carry out the ABLE program.

The bill will also provide seed funding for people with disabilities to open an ABLE Account.

Sisolak was joined by Treasurer Zach Conine and Senior Deputy Treasurer Erik Jimenez, from the Nevada state treasurer’s office for the signing.

“I would like to thank Treasurer Conine and his team, including Erik Jimenez, for leading the charge on this important program that will provide Nevadans with disabilities opportunities for financial independence by enabling them to create tax-advantaged savings accounts,” said Governor Sisolak.

“This bill helps take our State one step further in the right direction as we continue to expand programs and services to better address the needs of Nevadans living with disabilities.”