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US HR1897

US HR1897
ABLE Financial Planning Act


summary

Introduced
04/04/2017
In Committee
04/04/2017
Crossed Over
Passed
Dead
12/31/2018

Introduced Session

115th Congress

Bill Summary

ABLE Financial Planning Act This bill amends the Internal Revenue Code to allow tax-free rollovers of amounts in qualified tuition programs (529 plans) to qualified ABLE programs. (Tax-favored ABLE [Achieving a Better Life Experience] accounts are designed to enable individuals with disabilities to save for and pay for disability-related expenses.)

AI Summary

This bill, the ABLE Financial Planning Act, amends the Internal Revenue Code to allow tax-free rollovers of amounts from qualified tuition programs (529 plans) to qualified ABLE (Achieving a Better Life Experience) programs. ABLE accounts are designed to enable individuals with disabilities to save for and pay for disability-related expenses. The bill specifies that the rollover amount is subject to the annual contribution limit for ABLE accounts.

Committee Categories

Budget and Finance

Sponsors (40)

Cathy McMorris Rodgers (R)* Brian Babin (R),  Joyce Beatty (D),  Tony Cárdenas (D),  Steve Chabot (R),  Chris Collins (R),  Ryan Costello (R),  Brian Fitzpatrick (R),  Jeff Fortenberry (R),  Vicente Gonzalez (D),  Gregg Harper (R),  Jim Himes (D),  Jared Huffman (D),  Bill Johnson (R),  Dave Joyce (R),  Marcy Kaptur (D),  John Katko (R),  James Langevin (D),  John Larson (D),  Sean Maloney (D),  Patrick Meehan (R),  Luke Messer (R),  Seth Moulton (D),  Stephanie Murphy (D),  Tom O'Halleran (D),  Scott Peters (D),  Mark Pocan (D),  Bruce Poliquin (R),  James Renacci (R),  John Rutherford (R),  Pete Sessions (R),  Terri Sewell (D),  Chris Smith (R),  Steve Stivers (R),  Eric Swalwell (D),  Mike Turner (R),  David Valadao (R),  Greg Walden (R),  Maxine Waters (D),  Kevin Yoder (R), 

Last Action

Referred to the House Committee on Ways and Means. (on 04/04/2017)

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