ABLE Tomorrow Act

This bill changes federal tax law for ABLE accounts, which are tax-advantaged savings accounts for people with disabilities. It would bar states from recovering Medicaid costs from a person's ABLE account after death, allow a one-time contribution above the annual limit from certain trusts, life insurance proceeds, or 529 college savings rollovers, and let workers with disabilities direct employer retirement plan contributions into their ABLE accounts instead. It would also give people two months' notice before certain benefits are suspended. Federal and state agencies, including Social Security, Veterans Affairs, housing, Medicaid, nutrition, Head Start, and special education programs, would be required to tell enrollees about ABLE accounts, and the Treasury could award $50 million per year in awareness grants from 2027 through 2031.

Full text and official record on Congress.gov

Sponsors

• Jerry Moran Republican sponsor
• 8 cosponsors