US HB4794 | 2015-2016 | 114th Congress
Status
Spectrum: Slight Partisan Bill (Republican 12-6)
Status: Introduced on March 17 2016 - 25% progression, died in committee
Action: 2016-03-17 - Referred to the House Committee on Ways and Means.
Pending: House Ways And Means Committee
Text: Latest bill text (Introduced) [PDF]
Status: Introduced on March 17 2016 - 25% progression, died in committee
Action: 2016-03-17 - Referred to the House Committee on Ways and Means.
Pending: House Ways And Means Committee
Text: Latest bill text (Introduced) [PDF]
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 and from qualified ABLE programs to qualified tuition 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.)
Title
ABLE Financial Planning Act
Sponsors
| Rep. Ander Crenshaw [R-FL] | Sen. Chris Van Hollen [D-MD] | Rep. Cathy McMorris Rodgers [R-WA] | Rep. Pete Sessions [R-TX] |
| Rep. David Joyce [R-OH] | Rep. Michael Turner [R-OH] | Rep. Rodney Davis [R-IL] | Rep. Ryan Costello [R-PA] |
| Rep. Christopher Smith [R-NJ] | Rep. Scott Garrett [R-NJ] | Rep. Julia Brownley [D-CA] | Rep. Seth Moulton [D-MA] |
| Rep. Patrick Meehan [R-PA] | Rep. John Larson [D-CT] | Rep. Patrick Tiberi [R-OH] | Rep. James Renacci [R-OH] |
| Rep. Bill Pascrell [D-NJ] | Rep. Ann Kuster [D-NH] |
History
| Date | Chamber | Action |
|---|---|---|
| 2016-03-17 | House | Referred to the House Committee on Ways and Means. |
| 2016-03-17 | House | Introduced in House |
Same As/Similar To
SB2703 (Same As) 2016-03-17 - Read twice and referred to the Committee on Finance.
Subjects
Bank accounts, deposits, capital
Disability and paralysis
Income tax exclusion
Student aid and college costs
Taxation
Disability and paralysis
Income tax exclusion
Student aid and college costs
Taxation
US Congress State Sources
| Type | Source |
|---|---|
| Summary | https://www.congress.gov/bill/114th-congress/house-bill/4794/all-info |
| Text | https://www.congress.gov/114/bills/hr4794/BILLS-114hr4794ih.pdf |
