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Making ABLE Disability Savings Accounts Tax Benefits Permanent.

This law permanently extends key tax benefits related to ABLE savings accounts, designed for individuals with disabilities. This means higher contribution limits and the ability to roll over funds from 529 plans are now permanent, simplifying long-term financial planning. Furthermore, contributions to ABLE accounts can now qualify for the Savers Credit, supporting savings among lower-income individuals.
Key points
Higher annual contribution limits for ABLE accounts (savings for individuals with disabilities) are made permanent, removing the expiration date.
The ability to roll over funds from 529 education savings plans into ABLE accounts is also permanently extended.
Contributions to ABLE accounts will count as eligible for the Savers Credit, potentially lowering taxes for low- and moderate-income savers.
article Official text account_balance Process page
Introduced
Citizen Poll
No votes cast
Additional Information
Print number: 119_HR_1436
Sponsor: Rep. Smucker, Lloyd [R-PA-11]
Process start date: 2025-02-18
Lustra uses Artificial Intelligence. Verify details in source documents.
Summarized by: gemini-flash-latest
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 119_HR_1436.

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 2025-02-18.

What are the main provisions?

Key points include:

  • Higher annual contribution limits for ABLE accounts (savings for individuals with disabilities) are made permanent, removing the expiration date.
  • The ability to roll over funds from 529 education savings plans into ABLE accounts is also permanently extended.
  • Contributions to ABLE accounts will count as eligible for the Savers Credit, potentially lowering taxes for low- and moderate-income savers.
What is the specific legal status?

The current status is Introduced.

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 2025-12-23.

CATEGORIES

Taxes Benefits Family