S 2702
114th Congress
Senate
Taxation
Bank accounts, deposits, capital
Disability and paralysis
Employee benefits and pensions
Income tax credits
Income tax exclusion
ABLE to Work Act of 2016
Introduced: March 17, 2016
See on congress.gov
Everywhere this bill has been
2 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
Mar 17, 2016
Read twice and referred to the Committee on Finance.
Mar 17, 2016
Introduced in Senate
Plain-English summary
ABLE to Work Act of 2016
This bill amends the Internal Revenue Code, with respect to ABLE accounts (tax-exempt savings accounts for persons with a disability), to allow: (1) an ABLE account beneficiary to make contributions to an ABLE account equal to the lesser of such beneficiary's compensation or an amount equal to the federal poverty line for a one-person household, and (2) a retirement savings tax credit for contributions to an ABLE account.
What's happening now
Read twice and referred to the Committee on Finance.
Committees of jurisdiction
1