Bill
Bill > HB671
MT HB671
Revise ABLE Act definitions to conform to Montana individual income tax code
summary
Introduced
02/22/2025
02/22/2025
In Committee
03/17/2025
03/17/2025
Crossed Over
03/07/2025
03/07/2025
Passed
05/01/2025
05/01/2025
Dead
Signed/Enacted/Adopted
05/05/2025
05/05/2025
Introduced Session
2025 Regular Session
Bill Summary
AN ACT REVISING THE MONTANA ACHIEVING A BETTER LIFE EXPERIENCE ACT TO INCLUDE THE SAME DEFINITION FOR THE INTERNAL REVENUE CODE AS THE DEFINITION USED IN THE MONTANA INDIVIDUAL INCOME TAX CODE; AMING SECTION 53-25-103, MCA; AND PROVIDING AN IMMEDIATE EFFECTIVE DATE AND A RETROACTIVE APPLICABILITY DATE.”
AI Summary
This bill revises the Montana Achieving a Better Life Experience (ABLE) Act by adding a new definition for "Internal Revenue Code" that matches the definition used in Montana's individual income tax code. The bill amends section 53-25-103 of the Montana Code Annotated, which contains definitions for the ABLE program. Specifically, the bill inserts a new subsection (13) that cross-references the definition of Internal Revenue Code found in section 15-30-2101 of the state tax code. As a result of this addition, the subsequent definitions in the section are renumbered (with existing subsections 13-25 becoming 14-26). The bill has an immediate effective date and will apply retroactively to income tax years beginning after December 31, 2024. The ABLE Act is a program that allows individuals with disabilities to establish tax-advantaged savings accounts to pay for qualified disability expenses without affecting their eligibility for public benefits. By aligning the definition of Internal Revenue Code, the bill ensures consistency between the ABLE Act and the state's income tax regulations.
Committee Categories
Budget and Finance
Sponsors (1)
Last Action
Chapter Number Assigned (on 05/05/2025)
Official Document
bill text
bill summary
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bill summary
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bill summary
Document Type | Source Location |
---|---|
State Bill Page | https://bills.legmt.gov/#/laws/bill/2/LC1900 |
State Bill Page | https://bills.legmt.gov/#/lc/bill/2/LC1900 |
BillText | https://docs.legmt.gov/download-ticket?ticketId=a584cc95-9f93-4fcf-8f08-83d0a88fbc98 |
Fiscal Note HB0671_1 | https://docs.legmt.gov/download-ticket?ticketId=07d119ad-5d38-4dde-90ae-e8e8eb8b92f1 |
BillText | https://docs.legmt.gov/download-ticket?ticketId=dcd13ed1-4e2d-4c2a-88a8-d70ea07aaade |
BillText | https://api.legmt.gov/docs/v1/documents/getContent?documentId=281756 |
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