United States S 331: ABLE Age Adjustment Act

Status: Introduced in Senate (as of 2021-02-22)

State: United States · Session: 117 · Bill: S 331

Sponsors: Bob Casey, Alex Padilla, Amy Klobuchar, Ben Cardin, Chris Van Hollen, Christopher A. Coons, Dianne Feinstein, Jerry Moran, John Boozman, John F. Reed, Lisa Murkowski, Patrick J. Toomey, Patrick Leahy, Richard Blumenthal, Richard J. Durbin, Richard Mauze Burr, Roger Marshall, Ron Wyden, Sheldon Whitehouse, Sherrod Brown, Tammy Duckworth, Thomas R. Carper, Timothy M. Kaine

Bill Text

II
117TH CONGRESS
1ST SESSION S. 331
To amend the Internal Revenue Code of 1986 to increase the age requirement
with respect to eligibility for qualified ABLE programs.
IN THE SENATE OF THE UNITED STATES
FEBRUARY 22, 2021
Mr. CASEY (for himself, Mr. MORAN, Mr. WYDEN, Mr. VAN HOLLEN, Mr.
BOOZMAN, Mr. BLUMENTHAL, and Ms. MURKOWSKI) introduced the fol-
lowing bill; which was read twice and referred to the Committee on Fi-
nance
A BILL
To amend the Internal Revenue Code of 1986 to increase
the age requirement with respect to eligibility for quali-
fied ABLE programs.
Be it enacted by the Senate and House of Representa-1
tives of the United States of America in Congress assembled, 2
SECTION 1. SHORT TITLE. 3
This Act may be cited as the ‘‘ABLE Age Adjust-4
ment Act’’. 5
SEC. 2. MODIFICATION OF AGE REQUIREMENT FOR QUALI-6
FIED ABLE PROGRAMS. 7
(a) IN GENERAL.—Section 529A(e) of the Internal 8
Revenue Code of 1986 is amended by striking ‘‘age 26’’ 9
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2
•S 331 IS
each place it appears in paragraphs (1)(A) and 1
(2)(A)(i)(II) and inserting ‘‘age 46’’. 2
(b) EFFECTIVE DATE.—The amendments made by 3
this section shall apply to taxable years beginning after 4
the date of the enactment of this Act. 5
Æ
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