In a ceremony in his office at the Mississippi State Capitol, Gov. Phil Bryant signed into law the ABLE Act which allows for the establishment of tax-free 529 accounts for disabled individuals.
The sponsor of the bill, state Sen. Kevin Blackwell, R-Olive Branch, called the legislation significant for the lives of those affected by disabilities and special needs.
“It’s something that will help folks not only now but provide down the line for families who have children with special needs,” Blackwell said. “At the time of the demise of their parents, these children will have the resources to be cared for and live as full and productive lives as possible.”
The ABLE Act, which stands for “Achieving a Better Life Experience,” allows individuals with disabilities to create tax-free savings accounts.