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S. 651 - ABLE Age Adjustment Act

MAR. 5, 2019

S. 651; ABLE Age Adjustment Act

DATED MAR. 5, 2019
DOCUMENT ATTRIBUTES
  • Authors
    Casey, Sen. Robert P., Jr.
  • Institutional Authors
    U.S. Senate
    Senate Finance Committee
  • Code Sections
  • Subject Area/Tax Topics
  • Industry Groups
    Insurance
  • Jurisdictions
  • Tax Analysts Document Number
    2019-10608
  • Tax Analysts Electronic Citation
    2019 TNT 55-39
Citations: S. 651; ABLE Age Adjustment Act

116TH CONGRESS
1ST SESSION

S. 651

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

IN THE SENATE OF THE UNITED STATES

MARCH 5, 2019

Mr. CASEY (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.

Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled,

SECTION 1. SHORT TITLE.

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

SEC. 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.

DOCUMENT ATTRIBUTES
  • Authors
    Casey, Sen. Robert P., Jr.
  • Institutional Authors
    U.S. Senate
    Senate Finance Committee
  • Code Sections
  • Subject Area/Tax Topics
  • Industry Groups
    Insurance
  • Jurisdictions
  • Tax Analysts Document Number
    2019-10608
  • Tax Analysts Electronic Citation
    2019 TNT 55-39
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