SANTA FE ― Tuesday Feb. 16, the New Mexico Legislature passed the Savings Account for Disabled New Mexicans Act with unanimous support.
House Bill 61, sponsored by House Democratic Whip, Rep. Sheryl Williams Stapleton (D-Albuquerque) passed the Senate Chamber with a unanimous 34-0 vote. Earlier in the legislative session the New Mexico House of Representatives passed the Savings Account for Disabled New Mexicans Act with a unanimous vote of 65-0 on Feb. 8.
The Savings Account for Disabled New Mexicans Act will create a tax advantaged savings program for qualified people with disabilities supporting the federal Achieving a Better Life Experience (ABLE) Act of 2014. The goal of this legislation is to assist individuals with significant disabilities, and their families, to use their own funds to maintain health, independence, and quality of life.
“I am very pleased with the overwhelming support the Savings Account for Disabled New Mexicans Act received across party lines in both chambers,” Sheryl Williams Stapleton said. “The Savings Account for Disabled New Mexicans Act will bring security and independence to some of our most vulnerable members in our community. I am very optimistic that this bill will be signed into law and New Mexico will join other states in providing a savings account for people with disabilities.”
House Bill 61 will allow individuals with disabilities to have a tax advantaged account that will provide security for those with disabilities to support expenses associated with medical and dental care, education, community based support, employment training, assistive technology, housing and transportation. House Bill 61 now heads to the Governor’s desk.