II
119THCONGRESS
1
STSESSION S. 627
To amend the Internal Revenue Code of 1986 to make certain provisions
with respect to qualified ABLE programs permanent.
IN THE SENATE OF THE UNITED STATES
FEBRUARY19, 2025
Mr. S
CHMITT(for himself, Mr. VANHOLLEN, Mr. BOOZMAN, Mr.
T
UBERVILLE, Mr. KAINE, Mrs. BRITT, Ms. KLOBUCHAR, Mr. COONS,
Mr. M
ORAN, Mr. TILLIS, Mr. FETTERMAN, Mr. WARNOCK, Mr. SUL-
LIVAN, and Mr. KELLY) 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 make
certain provisions with respect to qualified ABLE pro-
grams permanent.
Be it enacted by the Senate and House of Representa-1
tives of the United States of America in Congress assembled, 2
SECTION 1. SHORT TITLE. 3
This Act may be cited as the ‘‘Ensuring Nationwide 4
Access to a Better Life Experience Act’’ or the ‘‘ENABLE 5
Act’’. 6
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•S 627 IS
SEC. 2. PERMANENT EXTENSION OF INCREASED CON-1
TRIBUTIONS TO ABLE ACCOUNTS. 2
(a) I
NGENERAL.—Section 529A(b)(2)(B)(ii) of the 3
Internal Revenue Code of 1986 is amended by striking 4
‘‘before January 1, 2026’’. 5
(b) A
LLOWANCE OFSAVERSCREDIT.— 6
(1) I
N GENERAL.—Section 25B(d)(1) of the In-7
ternal Revenue Code of 1986 is amended to read as 8
follows: 9
‘‘(1) I
N GENERAL.—The term ‘qualified retire-10
ment savings contributions’ means, with respect to 11
any taxable year, the sum of— 12
‘‘(A) the amount of contributions made by 13
the eligible individual during such taxable year 14
to the ABLE account (within the meaning of 15
section 529A) of which such individual is the el-16
igible beneficiary, and 17
‘‘(B) in the case of any taxable year begin-18
ning before January 1, 2027— 19
‘‘(i) the amount of the qualified retire-20
ment contributions (as defined in section 21
219(e)) made by the eligible individual, 22
‘‘(ii) the amount of— 23
‘‘(I) any elective deferrals (as de-24
fined in section 402(g)(3)) of such in-25
dividual, and 26
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•S 627 IS
‘‘(II) any elective deferral of com-1
pensation by such individual under an 2
eligible deferred compensation plan 3
(as defined in section 457(b)) of an 4
eligible employer described in section 5
457(e)(1)(A), and 6
‘‘(iii) the amount of voluntary em-7
ployee contributions by such individual to 8
any qualified retirement plan (as defined 9
in section 4974(c)).’’. 10
(2) C
OORDINATION WITH SECURE 2 .0 ACT OF 11
2022 AMENDMENT.—Paragraph (1) of section 103(e) 12
of the SECURE 2.0 Act of 2022 is repealed, and 13
the Internal Revenue Code of 1986 shall be applied 14
and administered as though such paragraph were 15
never enacted. 16
(c) E
FFECTIVEDATE.—The amendments made by 17
this section shall apply to taxable years ending after the 18
date of the enactment of this Act. 19
SEC. 3. PERMANENT EXTENSION OF ROLLOVERS TO ABLE 20
PROGRAMS FROM 529 PROGRAMS. 21
(a) I
NGENERAL.—Section 529(c)(3)(C)(i)(III) of 22
the Internal Revenue Code of 1986 is amended by striking 23
‘‘before January 1, 2026,’’. 24
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•S 627 IS
(b) EFFECTIVEDATE.—The amendment made by 1
this section shall apply to distributions made after the 2
date of the enactment of this Act. 3
Æ
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