Alabama SB 226

Alabama

"The Achieving a Better Life Experience (ABLE) Act of 2014 established Section 529A of the Internal Revenue Code of 1986, as amended, to allow families and individuals to save for disability-related expenses of a disabled individual in a federal tax-advantaged account...This bill would include ABLE in the legislative intent...to provide for the ABLE Program; provide for definitions relating to the ABLE Program; would provide for the  income tax exemption eligible to the ABLE Program; and provide appropriations for Fiscal Year 2015 for development and implementation of the ABLE Program."

"The Legislature of Alabama intends to establish a qualified ABLE Program in this state which will encourage and assist Alabama individuals and families in saving private funds for the purpose of supporting Alabama citizens with disabilities." 

State Policies & Initiatives: 
Legislation
Systems: 
  • Other
Topics: 
  • Asset Development / Financial Capability
Other: 
  • State Treasurer
Date Enacted: 
06/04/2015
CITATIONS: