ABLE Age Adjustment Act
This bill increases from 26 to 46 the age threshold for tax-favored ABLE (Achieving a Better Life Experience) accounts. (ABLE accounts are designed to enable individuals with disabilities to save for and pay for disability-related expenses. To establish an account, an individual must have a qualifying impairment that began before the individual attained the age threshold.)
[Congressional Bills 116th Congress]
[From the U.S. Government Publishing Office]
[S. 651 Introduced in Senate (IS)]
<DOC>
116th CONGRESS
1st Session
S. 651
To amend the Internal Revenue Code of 1986 to increase the age
requirement with respect to eligibility for qualified ABLE programs.
_______________________________________________________________________
IN THE SENATE OF THE UNITED STATES
March 5, 2019
Mr. Casey (for himself, Mr. Moran, Mr. Van Hollen, and Mr. Roberts)
introduced the following bill; which was read twice and referred to the
Committee on Finance
_______________________________________________________________________
A BILL
To amend the Internal Revenue Code of 1986 to increase the age
requirement with respect to eligibility for qualified ABLE programs.
Be it enacted by the Senate and House of Representatives of the
United States of America in Congress assembled,
SECTION 1. SHORT TITLE.
This Act may be cited as the ``ABLE Age Adjustment Act''.
SEC. 2. MODIFICATION OF AGE REQUIREMENT FOR QUALIFIED ABLE PROGRAMS.
(a) In General.--Section 529A(e) of the Internal Revenue Code of
1986 is amended by striking ``age 26'' each place it appears in
paragraphs (1)(A) and (2)(A)(i)(II) and inserting ``age 46''.
(b) Effective Date.--The amendments made by this section shall
apply to taxable years beginning after the date of the enactment of
this Act.
<all>
Introduced in Senate
Read twice and referred to the Committee on Finance.
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