ABLE MATCH (Making Able a Tool to Combat Hardship) Act

House Bill 5102 - ABLE MATCH (Making Able a Tool to Combat Hardship) Act: Overview, Status, and Impact

Hozzl · 2023-12-20T08:15:30Z

Explore the details of House Bill 5102 ABLE MATCH (Making Able a Tool to Combat Hardship) Act currently in Congress. Get insights into its purpose, current status, sponsors, and potential impact on Taxation. Stay informed on legislative developments.

12/20/2023, 8:15 AM

Congressional Summary of HR 5102

ABLE MATCH (Making Able a Tool to Combat Hardship) Act

This bill allows beneficiaries of ABLE (Achieving a Better Life Experience) accounts a refundable tax credit to match their contributions to such accounts. The amount of such credit may not exceed $2,000.

The bill also requires demographic reporting (e.g., race, gender, disability type) with respect to ABLE accounts and directs the Department of the Treasury to award grants to states for promoting such accounts and for making matching payments of contributions to such accounts.

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Current Status of Bill HR 5102

Bill HR 5102 is currently in the status of Bill Introduced since August 1, 2023. Bill HR 5102 was introduced during Congress 118 and was introduced to the House on August 1, 2023. Bill HR 5102's most recent activity was Referred to the House Committee on Ways and Means. as of August 1, 2023

Bipartisan Support of Bill HR 5102

Total Number of Sponsors

Democrat Sponsors

Republican Sponsors

Unaffiliated Sponsors

Total Number of Cosponsors

Democrat Cosponsors

Republican Cosponsors

Unaffiliated Cosponsors

Policy Area and Potential Impact of Bill HR 5102

Primary Policy Focus

Taxation

Alternate Title(s) of Bill HR 5102

ABLE MATCH (Making Able a Tool to Combat Hardship) Act

To amend the Internal Revenue Code of 1986 to provide matching payments for ABLE account contributions by certain individuals, and for other purposes.