H.R. 9614

ENABLE Act

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I

118th CONGRESS

2d Session

H. R. 9614

IN THE HOUSE OF REPRESENTATIVES

September 17, 2024

Mr. Smucker (for himself, Mr. Beyer, Mrs. Rodgers of Washington, Mrs. Dingell, Mr. Fitzpatrick, Ms. Norton, and Mr. Stauber) introduced the following bill; which was referred to the Committee on Ways and Means

A BILL

To amend the Internal Revenue Code of 1986 to make certain provisions with respect to qualified ABLE programs permanent.

1.

Short title

This Act may be cited as the Ensuring Nationwide Access to a Better Life Experience Act or the ENABLE Act.

2.

Permanent extension of increased contributions to ABLE accounts

(a)

In general

Section 529A(b)(2)(B)(ii) of the Internal Revenue Code of 1986 is amended by striking before January 1, 2026.

(b)

Allowance of savers credit

Section 25B(d)(1) of the Internal Revenue Code of 1986, as amended by section 103(e)(1) of the SECURE 2.0 Act of 2022, is amended by striking before January 1, 2026,.

(c)

Effective date

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

3.

Permanent extension of rollovers to ABLE programs from 529 programs

(a)

In general

Section 529(c)(3)(C)(i)(III) of the Internal Revenue Code of 1986 is amended by striking before January 1, 2026,.

(b)

Effective date

The amendment made by this section shall apply to distributions made after the date of the enactment of this Act.