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The Achieving a Better Life Experience (ABLE) Act of 2013 (S. 313/H.R.647) was introduced in the 113th Congress by a bipartisan, bicameral set of Congressional Champions including Sens. Robert Casey, Jr. (D-PA) and Richard Burr (R-NC), and Reps. Ander Crenshaw (R-FL), Chris Van Hollen (D-MD), Cathy McMorris Rodgers (R-WA), and Pete Sessions (R-TX). On December 3, 2014, the ABLE Act passed in the U.S. House of Representatives (404-17). Two weeks later, on December 16, the U.S. Senate voted to pass the ABLE Act as a part of the Tax Extenders package. On Friday, December 19, 2014, the President of the United States signed the Tax Extenders package, making the ABLE Act the law of the land.
The ABLE Act amends Section 529 of the Internal Revenue Service Code of 1986 to create tax-free savings accounts for individuals with disabilities. The bill aims to ease financial strains faced by individuals with disabilities by making tax-free savings accounts available to cover qualified expenses such as education, housing, and transportation. The bill supplements, but does not supplant, benefits provided through private insurances, the Medicaid program, the Supplemental Security Income program, the beneficiary’s employment, and other sources.
For More Information on ABLE Act
- ABLE National Resource Center (ANRC)
Founded and managed by National Disability Institute (NDI), the ANRC's goal is to provide consistent, reliable information concerning the benefits of an ABLE account. In addition, the ANRC aims to educate individuals with disabilities and their families, state government and legislatures, financial service companies and financial planners and attorneys - who focus on trust and estate planning - about ABLE’s potential positive impact on the lives of millions of Americans with disabilities.
- Understanding ABLE: What are ABLE Accounts?
- State Review: ABLE programs
- Legislative summary of the ABLE Act of 2014 (H.R. 647)
News Highlights - ABLE Act
- Members of Congress Re-Introduce ABLE Improvement Bills
- Webinar Event: Achieving Financial Independence with Ticket to Work and the ABLE Act
- New USDA Regulation Confirms ABLE Fund Protection
- ABLE National Resource Center Publishes Accomplishments and Outcomes Report
- Kentucky Launches In-State ABLE Program
- Tennessee Launches Countrys Second ABLE Program
- ABLE Update: States Thinking Creatively about How to Best Develop Programs
- States Band Together On ABLE Accounts
- Take a Survey about the New ABLE Act Accounts
- North Carolina Becomes 30th ABLE Act State
- Tennessee Governor Bill Haslam Signs ABLE Legislation to Help Families and Individuals with Disabilities Save with Tax-free Earnings
- ABLE Act Moves through House Ways and Means Committee