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A bill to amend the Internal Revenue Code of 1986 to provide for the establishment of financial security accounts for the care of family members with disabilities, and for other purposes.

3/11/2008--Introduced.

Financial Security Accounts for Individuals with Disabilities Act of 2008- Amends the Internal Revenue Code to establish tax-exempt financial security accounts for individuals with disabilities to pay certain expenses of such individuals, including expenses for education, medical care, and employment training.

Allows individual taxpayers a tax deduction, up to $2,000 per year, for cash contributions to such an account.

Amends title XIX (Medicaid) of the Social Security Act to permit the disregard of financial security accounts for disabled individuals in determining eligibility for Medicaid benefits. Permits the disregard of amounts in such accounts for purposes of determining eligibility for certain means-tested federal programs.

Latest Actions
  • 03/11/2008 - Read twice and referred to the Committee on Finance.
Bill Text
File name Last Updated
S.2743 Introduced in Senate03/13/2008