ABLE Accounts for Veterans Act of 2021

ABLE Accounts for Veterans Act of 2021

This bill requires the Social Security Administration to exclude contributions made by certain disabled veterans to state-sponsored savings accounts that allow eligible individuals to save for qualified disability expenses when determining whether such veterans have exceeded a specified earnings limit for Social Security Disability Insurance benefits.

[Congressional Bills 117th Congress]
[From the U.S. Government Publishing Office]
[H.R. 3444 Introduced in House (IH)]

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117th CONGRESS
  1st Session
                                H. R. 3444

   To amend title II of the Social Security Act to disregard certain 
contributions to ABLE accounts when determining an individual's ability 
   to engage in substantial gainful activity, and for other purposes.


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                    IN THE HOUSE OF REPRESENTATIVES

                              May 20, 2021

 Mr. Austin Scott of Georgia introduced the following bill; which was 
              referred to the Committee on Ways and Means

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                                 A BILL


 
   To amend title II of the Social Security Act to disregard certain 
contributions to ABLE accounts when determining an individual's ability 
   to engage in substantial gainful activity, and for other purposes.

    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 Accounts for Veterans Act of 
2021''.

SEC. 2. CERTAIN CONTRIBUTIONS TO ABLE ACCOUNTS DISREGARDED IN 
              DETERMINATION OF SUBSTANTIAL GAINFUL ACTIVITY.

    (a) In General.--Section 223(d)(4) of the Social Security Act (42 
U.S.C. 423(d)(4)) is amended by adding at the end the following:
    ``(D) In determining when earnings derived from services 
demonstrate an individual's ability to engage in substantial gainful 
activity, in the case of earnings earned in a month by an individual 
who receives compensation for a service-connected disability for such 
month under chapter 11 of title 38, United States Code, the 
Commissioner of Social Security shall disregard an amount of such 
earnings equal to the amount of any contribution made by the individual 
in such month to a qualified ABLE program (as defined in section 529A 
of the Internal Revenue Code of 1986) established for the benefit of 
such individual.''.
    (b) Effective Date.--The amendment made by subsection (a) shall 
apply with respect to earnings earned for months beginning after the 
date that is 6 months after the date of the enactment of this Act.
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