Bill 119 HR 1436, also known as the ABLE Age Adjustment Act, aims to amend the Internal Revenue Code of 1986 to make certain provisions regarding qualified ABLE programs permanent. ABLE programs, or Achieving a Better Life Experience programs, are tax-advantaged savings accounts for individuals with disabilities and their families. The bill specifically focuses on making the age adjustment provision permanent. This provision allows individuals with disabilities to continue contributing to their ABLE accounts beyond the age of 26, which was the previous age limit. By making this provision permanent, individuals with disabilities will have more flexibility and financial security in managing their savings for long-term expenses related to their disability. Overall, the ABLE Age Adjustment Act seeks to provide individuals with disabilities the opportunity to save and plan for their future without the fear of losing access to their ABLE accounts due to age restrictions. This bill aims to support the financial independence and well-being of individuals with disabilities and their families.
Bill 119 HR 1436, also known as the ABLE Age Adjustment Act, aims to amend the Internal Revenue Code of 1986 to make certain provisions regarding qualified ABLE programs permanent. ABLE programs, or Achieving a Better Life Ex...