Us Congress 2023-2024 Regular Session

Us Congress Senate Bill SB4541 Compare Versions

Only one version of the bill is available at this time.

Old	New	Differences
1	1	II
2	2	Calendar No. 419
3	3	118THCONGRESS
4	4	2
5	5	DSESSION S. 4541
6	6	To amend the Internal Revenue Code of 1986 to make certain provisions
7	7	with respect to qualified ABLE programs permanent.
8	8	IN THE SENATE OF THE UNITED STATES
9	9	JUNE13, 2024
10	10	Mr. S
11	11	CHMITT(for himself and Mr. CASEY) introduced the following bill; which
12	12	was read the first time
13	13	J
14	14	UNE17, 2024
15	15	Read the second time and placed on the calendar
16	16	A BILL
17	17	To amend the Internal Revenue Code of 1986 to make
18	18	certain provisions with respect to qualified ABLE pro-
19	19	grams permanent.
20	20	Be it enacted by the Senate and House of Representa-1
21	21	tives of the United States of America in Congress assembled, 2
22	22	SECTION 1. SHORT TITLE. 3
23	23	This Act may be cited as the ‘‘Ensuring Nationwide 4
24	24	Access to a Better Life Experience Act’’ or the ‘‘ENABLE 5
25	25	Act’’. 6
26	26	VerDate Sep 11 2014 23:56 Jun 17, 2024 Jkt 049200 PO 00000 Frm 00001 Fmt 6652 Sfmt 6201 E:\BILLS\S4541.PCS S4541
27	27	ssavage on LAPJG3WLY3PROD with BILLS 2
28	28	S 4541 PCS
29	29	SEC. 2. PERMANENT EXTENSION OF INCREASED CON-1
30	30	TRIBUTIONS TO ABLE ACCOUNTS. 2
31	31	(a) I
32	32	NGENERAL.—Section 529A(b)(2)(B)(ii) of the 3
33	33	Internal Revenue Code of 1986 is amended by striking 4
34	34	‘‘before January 1, 2026’’. 5
35	35	(b) A
36	36	LLOWANCE OF SAVERSCREDIT.—Section 6
37	37	25B(d)(1) of the Internal Revenue Code of 1986, as 7
38	38	amended by section 103(e)(1) of the SECURE 2.0 Act 8
39	39	of 2022, is amended by striking ‘‘before January 1, 9
40	40	2026,’’. 10
41	41	(c) E
42	42	FFECTIVEDATE.—The amendments made by 11
43	43	this section shall apply to taxable years beginning after 12
44	44	the date of the enactment of this Act. 13
45	45	SEC. 3. PERMANENT EXTENSION OF ROLLOVERS TO ABLE 14
46	46	PROGRAMS FROM 529 PROGRAMS. 15
47	47	(a) I
48	48	NGENERAL.—Section 529(c)(3)(C)(i)(III) of 16
49	49	the Internal Revenue Code of 1986 is amended by striking 17
50	50	‘‘before January 1, 2026,’’. 18
51	51	(b) E
52	52	FFECTIVEDATE.—The amendment made by 19
53	53	this section shall apply to distributions made after the 20
54	54	date which is 10 days after the date of the enactment of 21
55	55	this Act. 22
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57	57	ssavage on LAPJG3WLY3PROD with BILLS VerDate Sep 11 2014 23:56 Jun 17, 2024 Jkt 049200 PO 00000 Frm 00003 Fmt 6652 Sfmt 6201 E:\BILLS\S4541.PCS S4541
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59	59	419
60	60	118
61	61	TH
62	62	CONGRESS
63	63	2
64	64	D
65	65	S
66	66	ESSION
67	67
68	68	S. 4541 A BILL
69	69	To amend the Internal Revenue Code of 1986 to
70	70	make certain provisions with respect to qualified
71	71	ABLE programs permanent.
72	72	J
73	73	UNE
74	74	17, 2024
75	75	Read the second time and placed on the calendar
76	76	VerDate Sep 11 2014 23:56 Jun 17, 2024 Jkt 049200 PO 00000 Frm 00004 Fmt 6651 Sfmt 6651 E:\BILLS\S4541.PCS S4541
77	77	ssavage on LAPJG3WLY3PROD with BILLS