US SB2703 | 2015-2016 | 114th Congress
Status
Spectrum: Moderate Partisan Bill (Democrat 5-1)
Status: Introduced on March 17 2016 - 25% progression, died in committee
Action: 2016-03-17 - Read twice and referred to the Committee on Finance.
Pending: Senate Finance Committee
Text: Latest bill text (Introduced) [PDF]
Status: Introduced on March 17 2016 - 25% progression, died in committee
Action: 2016-03-17 - Read twice and referred to the Committee on Finance.
Pending: Senate Finance 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
Sen. Robert Casey [D-PA] | Sen. Richard Burr [R-NC] | Sen. Amy Klobuchar [D-MN] | Sen. Edward Markey [D-MA] |
Sen. Richard Blumenthal [D-CT] | Sen. Kirsten Gillibrand [D-NY] |
History
Date | Chamber | Action |
---|---|---|
2016-03-17 | Senate | Read twice and referred to the Committee on Finance. |
Same As/Similar To
HB4794 (Same As) 2016-03-17 - Referred to the House Committee on Ways and Means.
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/senate-bill/2703/all-info |
Text | https://www.congress.gov/114/bills/s2703/BILLS-114s2703is.pdf |