ENABLE Act

Read twice and referred to the Committee on Finance.

Bill 119 s 627, also known as the ABLE Age Adjustment Act, is a piece of legislation that aims to amend the Internal Revenue Code of 1986 in order to make certain provisions regarding qualified Achieving a Better Life Experience (ABLE) programs permanent.

ABLE programs are tax-advantaged savings accounts for individuals with disabilities and their families. These accounts allow individuals to save money for disability-related expenses without jeopardizing their eligibility for government benefits such as Medicaid and Supplemental Security Income.

The bill specifically focuses on making the age adjustment provision permanent. This provision allows individuals who become disabled before the age of 26 to open an ABLE account regardless of their age at the time of opening the account. Previously, individuals were only eligible to open an ABLE account before the age of 26, but this bill seeks to remove that age restriction permanently. By making this provision permanent, the bill aims to provide individuals with disabilities greater flexibility and financial security in managing their disability-related expenses. The ABLE Age Adjustment Act has received bipartisan support in Congress and is seen as a positive step towards improving the financial well-being of individuals with disabilities.