HB5102: ABLE MATCH (Making Able a Tool to Combat Hardship) Act
- 1Introduced (current step)
- 2Passed One Chamber
- 3Passed Both Chambers
- 4Became Law
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Bill information
Summary
To amend the Internal Revenue Code of 1986 to provide matching payments for ABLE account contributions by certain individuals, and for other purposes.
Plain-language summary
This bill would amend tax law to create matching payments for ABLE accounts, which are tax-advantaged savings accounts for people with disabilities. The government would match contributions made by eligible individuals to incentivize saving. ABLE accounts let disabled people save money without losing public benefits like Medicaid. The bill is currently in the introduced stage and has not yet been assigned to or voted on.
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HB5102: ABLE MATCH (Making Able a Tool to Combat Hardship) Act