Program Investment Institution:
Total Annual Contribution Limit: $15,000
Account Limit: $350,000
State Tax Deduction: No
Additional Information: HB 1224 was signed into law on 3/11/2016. The bill:
- Excludes contributions to an account in a qualified ABLE savings program, earnings on the contributions, or distributions from the account for qualified disability expenses from consideration when determining eligibility for State benefit programs.
- Authorizes the Investment Council to provide information about ABLE savings programs to residents of South Dakota
ABLE Legislation: HB 1224