“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.”
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. This will allow the Treasurer’s Office to seek out gifts, grants, and donations to carry out the ABLE program. This will allow the Treasurer’s Office to provide seed funding for people with disabilities to open an ABLE Account, a tax-advantaged savings account that can fund disability expenses – the first state in the nation to do so.