Twice-yearly investment changes in 529 accounts gets House okay
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.
Return to 529 News centerThe bill now goes to the Senate which is likely to pass it and send it to the President for his signature.