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Twice-yearly investment changes in 529 accounts gets House okay
(December 5, 2014) - The U.S. House of Representatives on December 3 passed the the Achieving a Better Life Experience (ABLE) Act, HR. 647, that would permit states to operate tax-free investment programs for individuals with a disability, similar to 529 education savings plans. ABLE accounts would enable participants to make twice-yearly investment changes. As part of the bill, the twice-yearly change limitation would be added to 529 education savings plans, replacing the current IRS-imposed once-yearly limitation. The ability to make up to two investment changes in a 529 account would begin in 2015.
The bill now goes to the Senate which is likely to pass it and send it to the President for his signature.