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FOR IMMEDIATE RELEASE |
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State
Rep. Barb McIlvaine Smith |
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McIlvaine Smith introduces bill to create tax-deferred savings plan for special needs individuals
Special Needs Savings Plan (SNAP) would be similar to state's TAP account
HARRISBURG, April 10 – State Rep. Barb McIlvaine Smith, D-Chester, has introduced legislation (H.B. 2406) that would enable parents of special needs children to put tax-deferred funds aside for when their children reach age 21.
McIlvaine Smith noted that currently, there are no public support systems in place for special needs individuals once they turn 21.
"Special needs individuals don’t stop needing assistance once they turn 21," McIlvaine Smith said. "To maximize their ability to gain employment and seek out housing, they need support services to continue beyond age 21."
McIlvaine Smith's Special Needs Account Program, or SNAP, would be similar to the state's TAP 529 college savings plan. She noted that, while the TAP 529 initiative enables parents to save for their children's college education, her plan would enable parents of special needs children to save for their children’s public support services when they reach 21, typically the age at which the services they received in school end.
As chairwoman of the House Subcommittee on Special Education, McIlvaine Smith has heard from many parents about the need to continue services for their children beyond high school.
"The overwhelming message I receive at each hearing I attend is that families want their special needs loved ones to have the most fulfilling futures possible," McIlvaine Smith said. "My legislation is recognition of the need for more support for this growing number of individuals."
McIlvaine Smith said the issue that cuts across party lines, and said she is pleased the bill has bipartisan co-sponsorship.
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CONTACT: Lauren Rooney
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