ENABLE Act

10/16/2024, 8:05 AM

Ensuring Nationwide Access to a Better Life Experience Act or the ENABLE Act

This bill makes permanent three tax provisions relating to ABLE (Achieving a Better Life Experience) accounts established to assist disabled individuals, specifically provisions allowing increased contributions to such accounts, the allowance of a retirement savings contribution tax credit of up to $1,000 ($2,000 per married couple filing jointly) for contributions to an ABLE account, and allowing a tax-free rollover from a qualified tuition program (529 plan) to an ABLE account. 

The ENABLE Act, also known as Bill 118 hr 9614, is a piece of legislation currently being considered by the US Congress. The purpose of this bill is to promote the development of new energy technologies and increase energy efficiency in the United States.

The ENABLE Act aims to achieve these goals by providing funding and support for research and development in the energy sector. This includes funding for projects that focus on renewable energy sources, such as solar and wind power, as well as projects that aim to improve energy efficiency in buildings and transportation.

Additionally, the ENABLE Act includes provisions to encourage the deployment of new energy technologies, such as tax incentives for businesses that invest in clean energy projects. The bill also seeks to promote collaboration between government agencies, research institutions, and private sector companies to accelerate the development and adoption of new energy technologies. Overall, the ENABLE Act is designed to support the growth of the clean energy sector in the United States and reduce the country's reliance on fossil fuels. By investing in research and development and providing incentives for businesses to adopt clean energy technologies, the bill aims to create a more sustainable and environmentally friendly energy system for the future.
Congress
118
Number
HR - 9614
Introduced on
2024-09-17
# Amendments
0
Sponsors
+5
Cosponsors
+5

Variations and Revisions

9/17/2024
Text
PDF
XML

Status of Legislation

Bill Introduced
Introduced to House
House to Vote
Introduced to Senate
Senate to Vote

Purpose and Summary

Ensuring Nationwide Access to a Better Life Experience Act or the ENABLE Act

This bill makes permanent three tax provisions relating to ABLE (Achieving a Better Life Experience) accounts established to assist disabled individuals, specifically provisions allowing increased contributions to such accounts, the allowance of a retirement savings contribution tax credit of up to $1,000 ($2,000 per married couple filing jointly) for contributions to an ABLE account, and allowing a tax-free rollover from a qualified tuition program (529 plan) to an ABLE account. 

The ENABLE Act, also known as Bill 118 hr 9614, is a piece of legislation currently being considered by the US Congress. The purpose of this bill is to promote the development of new energy technologies and increase energy efficiency in the United States.

The ENABLE Act aims to achieve these goals by providing funding and support for research and development in the energy sector. This includes funding for projects that focus on renewable energy sources, such as solar and wind power, as well as projects that aim to improve energy efficiency in buildings and transportation.

Additionally, the ENABLE Act includes provisions to encourage the deployment of new energy technologies, such as tax incentives for businesses that invest in clean energy projects. The bill also seeks to promote collaboration between government agencies, research institutions, and private sector companies to accelerate the development and adoption of new energy technologies. Overall, the ENABLE Act is designed to support the growth of the clean energy sector in the United States and reduce the country's reliance on fossil fuels. By investing in research and development and providing incentives for businesses to adopt clean energy technologies, the bill aims to create a more sustainable and environmentally friendly energy system for the future.
Alternative Names
Official Title as IntroducedTo amend the Internal Revenue Code of 1986 to make certain provisions with respect to qualified ABLE programs permanent.

Comments

APPROVED
WC
Wilson Connolly
@laphroaig_canary_melon_tobermory11553
This bill sucks, it's gonna hurt us all. Only the rich benefit from it.

Recent Activity

Latest Summary12/16/2024

Ensuring Nationwide Access to a Better Life Experience Act or the ENABLE Act

This bill makes permanent three tax provisions relating to ABLE (Achieving a Better Life Experience) accounts established to assist disabled indivi...

Latest Action9/17/2024
Referred to the House Committee on Ways and Means.