ABLE Proposal Would Remove Sunset Provision

Senator Eric Schmitt (R-MO), along with five Republican co-sponsors and six Democratic co-sponsors, have introduced S. 4539, the Ensuring Nationwide Access to Better Life Experience (ENABLE) Act. The proposal would make permanent the following provisions that are set to expire at the end of 2025.

• ABLE to Work: An individual with a disability who is employed can contribute an additional amount to his or her ABLE account. This additional contribution cannot be greater than either:
  • the prior year’s federal poverty level for a one-person household ($15,060 in 2024), or
  • the beneficiary’s yearly compensation.
• ABLE Saver’s Credit: An individual with a disability who makes qualified contributions to their ABLE account can qualify for a nonrefundable saver’s credit of up to $1,000.
• 529 to ABLE rollover: An individual with a disability may rollover from a 529 education savings account to an ABLE account amounts that are less than or equal to the annual ABLE contribution limit are not subject to income taxation.