Policy Bill Updates

S.4541 - Ensuring Nationwide Access to a Better Life (Passed)

Written by Admin | Nov 7, 2024 5:25:07 PM

S.4541 - Ensuring Nationwide Access to a Better Life Experience Act (Introduced in the Senate on June 13, 2024)

This bill was introduced in the Senate on June 13, 2024. This bill makes permanent three tax provisions relating to ABLE (Achieving a Better Life Experience) Accounts established to assist disabled individuals, specifically provisions allowing increased contributions to such accounts, the allowance of a retirement savings contribution tax credit up to $1,000, and allowing a tax-free rollover from a qualified tuition program (529 plan) to an ABLE Account.