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H.R. 1205: | ABLE Act of 2009 | 111th Congress 2009-2010 |
To amend the Internal Revenue Code of 1986 to provide for the establishment of ABLE accounts for the care of family members with disabilities, and for other purposes. OverviewSponsor: | | Text: | Summary
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Full Text | Status: |  | Introduced | Feb 26, 2009 | | Referred to Committee | View Committee Assignments |  | Reported by Committee | ... | | House Vote | ... | | Senate Vote | ... | | Signed by President | ... |
This bill is in the first step in the legislative process. Introduced
bills and resolutions first go to committees that deliberate, investigate, and revise
them before they go to general debate. The majority of bills and resolutions never make it out of committee.
[Last Updated: Jan 28, 2010 6:19AM] | Last Action: | Feb 26, 2009:
Referred to House Energy and Commerce | Other Titles: | -- Achieving a Better Life Experience Act of 2009 | Related: | See the Related Legislation page for other bills related to this one and a list of subject terms
that have been applied to this bill.
Sometimes the text of one bill or resolution is incorporated into another, and in those cases the original bill or resolution, as it would appear here, would seem to be abandoned. |
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Question & Answer 
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Mar 4, 2009 9:14 PM - How is the money taken from the parents to pay into these funds for the children with Autism's future? -
Read AnswersAnswered by a visitor on Jun 23, 2009 1:38 PM -
My understanding of this legislation is that it would be an alternative to placing your assets in a Special Needs Trust, and the funds placed in it would be tax exempt, like an IRA or Flexible Spending Account fund. Answered by a visitor on Jul 22, 2009 9:12 AM -
An ABLE account would work much like an IRA, except anyone - parents, grandparents, friends, or the disabled person - could put money in (not all would get a tax break for it though). It would be just like setting up a savings account. You might still want a Special Needs Trust though, because that also includes instructions and trustees to decide how to spend the money if the beneficiary isn't competent to decide. |
Because the U.S. Congress posts most legislative information online one legislative day after events occur, GovTrack is usually one legislative day behind. For more information about where this data comes from, see
About GovTrack.us. H.R. 1205--111th Congress: ABLE Act of 2009.
(2009).
In GovTrack.us (database of federal legislation).
Retrieved Feb 10, 2010, from
http://www.govtrack.us/congress/bill.xpd?bill=h111-1205
"H.R. 1205--111th Congress: ABLE Act of 2009."
GovTrack.us (database of federal legislation).
2009.
Feb 10, 2010
<http://www.govtrack.us/congress/bill.xpd?bill=h111-1205>
{{cite web
|url=http://www.govtrack.us/congress/bill.xpd?bill=h111-1205
|title=H.R. 1205
|accessdate=Feb 10, 2010
|author=111th Congress (2009)
|date=Feb 26, 2009
|work=Legislation
|publisher=GovTrack.us
|quote=ABLE Act of 2009
}} | | | |
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