The passage of state legislation that enables the creation of tax-exempt savings accounts specifically for people with qualified disabilities and their families is good news for Shane and Wyatt Waksmunski.

The Mahoning Township twins were present when Gov. Tom Wolf signed the Pennsylvania Achieving a Better Life Experience Act on Monday.The ABLE act is a "big deal," said Eric Waksmunski, of Mahoning Township, whose 6-year-old twin sons both have Down syndrome, the most common genetic chromosomal disorder and cause of learning disabilities in children.The act will provide families with a savings account without jeopardizing eligibility for important programs that their loved ones depend on."For us, this means that we can now better plan for Shane and Wyatt's future," Eric said. "We will be able to establish accounts and deposit money that can be used tax free for education, medical services and supplies, transportation or living expenses."Waksmunski said, "As they get older, they will be able to collect a paycheck and deposit the money without fear of losing services."They hopefully will be able to live outside of our home and be self-sufficient," he said. "Money can be put aside for education after they leave high school. This bill allows for opportunities to live a life that all should strive for."Waksmunski said before the act, people would lose access to services if they had assets totaling more than $2,000.This account will allow up to $14,000 per year per qualified person, up to a max of $100,000, he said.PA ABLE savings account benefits may include:• Savings up to $14,000 each year.• Savings grow tax-free.• Use account to pay for a wide range of disability-related expenses.• Withdrawals will be exempt from federal and state income tax when used for qualified disability expenses.• Accounts would be exempt from inheritance tax.• ABLE savings are excluded from eligibility determinations for Supplemental Security Income benefits (savings up to $100,000), other means-tested federal programs, Medical Assistance, and other state means-tested disability and health benefits.A second bill, House Bill 1319, that would allow ABLE contributions (up to $14,000 annually) to be deducted from Pennsylvania state income tax, is working its way through the legislative process. It passed the Senate unanimously but needs the concurrence of the House.The ABLE Act was enacted in December 2014. It provides federal tax and other benefits to eligible individuals with disabilities who save to meet qualified disability expenses through ABLE savings programs offered by states.The PA ABLE Act will authorize the Pennsylvania Treasury Department to create the PA ABLE Savings Program, and Treasury has already begun to plan for implementing the act.