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S. 651 (116th): ABLE Age Adjustment Act

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The text of the bill below is as of Mar 5, 2019 (Introduced). The bill was not enacted into law.

II

116th CONGRESS

1st Session

S. 651

IN THE SENATE OF THE UNITED STATES

March 5, 2019

(for himself, Mr. Moran, Mr. Van Hollen, and Mr. Roberts) introduced the following bill; which was read twice and referred to the Committee on Finance

A BILL

To amend the Internal Revenue Code of 1986 to increase the age requirement with respect to eligibility for qualified ABLE programs.

1.

Short title

This Act may be cited as the ABLE Age Adjustment Act.

2.

Modification of age requirement for qualified ABLE programs

(a)

In general

Section 529A(e) of the Internal Revenue Code of 1986 is amended by striking age 26 each place it appears in paragraphs (1)(A) and (2)(A)(i)(II) and inserting age 46.

(b)

Effective date

The amendments made by this section shall apply to taxable years beginning after the date of the enactment of this Act.