II
Calendar No. 419
118th CONGRESS
2d Session
S. 4541
IN THE SENATE OF THE UNITED STATES
June 13, 2024
Mr. Schmitt (for himself and Mr. Casey) introduced the following bill; which was read the first time
June 17, 2024
Read the second time and placed on the calendar
A BILL
To amend the Internal Revenue Code of 1986 to make certain provisions with respect to qualified ABLE programs permanent.
Short title
This Act may be cited as the Ensuring Nationwide Access to a Better Life Experience Act
or the ENABLE Act
.
Permanent extension of increased contributions to ABLE accounts
In general
Section 529A(b)(2)(B)(ii) of the Internal Revenue Code of 1986 is amended by striking before January 1, 2026
.
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,
.
Effective date
The amendments made by this section shall apply to taxable years beginning after the date of the enactment of this Act.
Permanent extension of rollovers to ABLE programs from 529 programs
In general
Section 529(c)(3)(C)(i)(III) of the Internal Revenue Code of 1986 is amended by striking before January 1, 2026,
.
Effective date
The amendment made by this section shall apply to distributions made after the date which is 10 days after the date of the enactment of this Act.
June 17, 2024
Read the second time and placed on the calendar