ABLE MATCH (Making Able a Tool to Combat Hardship) Act
Analysis under review: This bill has generated analysis that may be too generic or incomplete. Clause-level evidence remains available below.
Summary
What This Bill Does
The bill creates matching payments for ABLE account contributions by certain individuals Subchapter B of chapter 65 of the Internal Revenue Code of 1986 is amended by inserting after section 6433 the following new section, creates matching payments for ABLE account contributions by certain individuals Any individual who is the designated beneficiary of an ABLE account as of the last day of the taxable year and who makes qualified ABLE, and requires demographic reporting with respect to ABLE accounts Section 529A(d)(1) of the Internal Revenue Code of 1986 is amended by adding at the end the following new sentence: In addition to the information required. It relies on compliance mandates, definition changes, tax credits, and exemptions. The main policy areas are Tax.
Who Benefits and How
Regulated entities and members of the public affected by the bill could gain revenue opportunities, Lobbyists, political organizations, and disclosure users affected by the bill could face lower compliance burdens, and Public beneficiaries or protected communities affected by the clause could face reduced risk.
Who Bears the Burden and How
Federal, state, or local agencies responsible for implementing the clause would take on compliance duties, Public beneficiaries or protected communities affected by the clause could face increased risk, and Regulated entities and members of the public affected by the bill would take on compliance duties.
Key Provisions
- Creates matching payments for ABLE account contributions by certain individuals Subchapter B of chapter 65 of the Internal Revenue Code of 1986 is amended by inserting after section 6433 the following new section...
- Creates matching payments for ABLE account contributions by certain individuals Any individual who is the designated beneficiary of an ABLE account as of the last day of the taxable year and who makes qualified ABLE...
- Requires demographic reporting with respect to ABLE accounts Section 529A(d)(1) of the Internal Revenue Code of 1986 is amended by adding at the end the following new sentence: In addition to the information required...
- Creates grants to promote use of ABLE accounts and the matching contribution credit.
Evidence Chain:
This summary is generated from the full bill text using AI analysis. Expand "Detailed Analysis" below for identified beneficiaries/burden bearers with clause-level evidence links.
At a Glance
What This Bill Does
The bill creates matching payments for ABLE account contributions by certain individuals Subchapter B of chapter 65 of the Internal Revenue Code of 1986 is amended by inserting after section 6433 the following new section, creates matching payments for ABLE account contributions by certain individuals Any individual who is the designated beneficiary of an ABLE account as of the last day of the taxable year and who makes qualified ABLE, and requires demographic reporting with respect to ABLE accounts Section 529A(d)(1) of the Internal Revenue Code of 1986 is amended by adding at the end the following new sentence: In addition to the information required.
Key Policy Areas
Tax
Primary Purpose
The bill creates matching payments for ABLE account contributions by certain individuals Subchapter B of chapter 65 of the Internal Revenue Code of 1986 is amended by inserting after section 6433 the following new section, creates matching payments for ABLE account contributions by certain individuals Any individual who is the designated beneficiary of an ABLE account as of the last day of the taxable year and who makes qualified ABLE, and requires demographic reporting with respect to ABLE accounts Section 529A(d)(1) of the Internal Revenue Code of 1986 is amended by adding at the end the following new sentence: In addition to the information required.
Policy Domains
Whole bill
Identified Gains
- Regulated entities and members of the public affected by the bill
- Lobbyists, political organizations, and disclosure users affected by the bill
- Public beneficiaries or protected communities affected by the clause
Identified Costs
- Federal, state, or local agencies responsible for implementing the clause
- Public beneficiaries or protected communities affected by the clause
- Regulated entities and members of the public affected by the bill
Sponsors
Legislative Progress
In CommitteeRead twice and referred to the Committee on Finance.
Introduced in Senate
Mr. Van Hollen (for himself, Mr. Moran, Ms. Klobuchar, and …
Impact analysis is available but no clear stakeholder effects identified. View clause-level analysis →
Bill Structure & Actor Mappings
Who is "The Secretary" in each section?
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