History

• Dodd introduced the bill in March 2008, and it was referred to the Senate Subcommittee on Finance. The committee did not release the bill to the full Senate for a vote.
  
  

Intent

• Dodd said the bill would create special accounts limited to $1 million, similar to 529 college savings plans, receiving special tax advantages. People with disabilities and their families would be able to put private funds aside to help pay for future disability expenses with tax-free distributions.
  
  

Eligibility

• The bill would have limited the eligibility to people under age 65 who were blind or who were determined to be disabled by the U.S. Social Security Administration or the Disability Determination Service.
  
  

Considerations

• Dodd and other proponents argued that people with disabilities and their families needed more tax-friendly options to save their money, have more independence and a higher quality of life.