LITTLE ROCK — Families of people with disabilities will be able to set up tax-free savings accounts under a bill signed into law by Gov. Asa Hutchinson.
Republican Rep. Julie Mayberry of Hensley said her bill will empower people with disabilities to be more self-sufficient. The accounts can be used for education, transportation, health care and other training or support.
The state treasurer, director of human services and director of rehabilitation services will oversee its implementation.
Arkansans will be able to utilize the savings accounts after the state treasurer determines the state program aligns with federal guidelines.
Similar legislation has been introduced in 26 other states and passed in four.
The state estimates the program will result in a $24,000 general revenue reduction when implemented in 2017.
Read Thursday's Arkansas Democrat-Gazette for full details.
