Senate Bill 331
117th Congress(2021-2022)
ABLE Age Adjustment Act
Introduced
Introduced in Senate on Feb 22, 2021
Origin Chamber
Senate
Type
Bill
Bill
The primary form of legislative measure used to propose law. Depending on the chamber of origin, bills begin with a designation of either H.R. or S. Joint resolution is another form of legislative measure used to propose law.
Bill Number
331
Congress
117
Policy Area
Taxation
Taxation
Primary focus of measure is all aspects of income, excise, property, inheritance, and employment taxes; tax administration and collection. Measures concerning state and local finance may fall under Economics and Public Finance policy area.
No Senate votes have been held for this bill.
Summary
ABLE Age Adjustment Act
This bill increases from 26 to 46 the age threshold for tax-favored ABLE (Achieving a Better Life Experience) accounts. (ABLE accounts are designed to enable individuals with disabilities to save for and pay for disability-related expenses. To establish an account, an individual must have a qualifying impairment that began before the individual attained the age threshold.)
February 22, 2021
02/22/2021
Read twice and referred to the Committee on Finance.
02/22/2021
Introduced in Senate
Public Record
Record Updated
Mar 8, 2023 8:12:14 PM