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Making ABLE Savings Account Benefits Permanent for Disabled Individuals

This law permanently extends key provisions related to ABLE savings accounts, which are designed for individuals with disabilities. This means that higher annual contribution limits and the ability to roll over funds from 529 college savings plans into ABLE accounts will continue indefinitely, rather than expiring in 2026. This change provides greater financial stability and flexibility for saving for future needs for people with disabilities.
Key points
Increased annual contribution limits for ABLE savings accounts for individuals with disabilities are made permanent, allowing for greater tax-advantaged savings.
The option to transfer funds from 529 education savings plans directly into ABLE accounts is permanently extended.
The Savers Credit tax benefit for contributions to ABLE accounts is also made permanent.
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Additional Information
Print number: 118_HR_9614
Sponsor: Rep. Smucker, Lloyd [R-PA-11]
Process start date: 2024-09-17
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Summarized by: gemini-2.5-flash-preview-09-2025
Source data: api.congress.gov
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OFFICIAL LEGAL TITLE

ENABLE Act

FREQUENTLY ASKED QUESTIONS

What is the official ID of this bill?

The official print number for this legislation is 118_HR_9614.

Which chamber initiated this legislation?

This legislation was initiated in the House of Representatives.

When did the legislative process begin?

The process officially started on 2024-09-17.

What are the main provisions?

Key points include:

  • Increased annual contribution limits for ABLE savings accounts for individuals with disabilities are made permanent, allowing for greater tax-advantaged savings.
  • The option to transfer funds from 529 education savings plans directly into ABLE accounts is permanently extended.
  • The Savers Credit tax benefit for contributions to ABLE accounts is also made permanent.
What is the specific legal status?

The current status is Expired.

Where can I read the full text of this legislation?

The full official text is available at: View full text

Who is the primary sponsor?

The primary sponsor is Rep. Smucker, Lloyd [R-PA-11].

What is the latest detailed status?

The latest detailed status is: Referred to the House Committee on Ways and Means.

Is this summary verified?

Yes. This content was analyzed by AI and verified by the Lustra Judge System on 2025-12-26.

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