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The Qualified ABLE Program: tax-advantaged savings accounts.

It became law on Oct 4, 2017.

CA SB 218 · Senate Bill · 2017–2018

Stage
Became law
Started in
Senate
Sponsor
1
Latest action
Oct 4, 2017

What it does

Existing federal law, the Stephen Beck, Jr., Achieving a Better Life Experience Act of 2014 (ABLE Act) , encourages and assists individuals and families to save private funds in a tax-advantaged savings account for the purpose of supporting persons with disabilities to maintain their health, independence, and quality of life by excluding from gross income distributions used for qualified disability expenses by a designated beneficiary of a qualified ABLE program established and maintained by a state, as specified. Existing state law authorizes a designated beneficiary, as defined, to have one ABLE account for these purposes. Existing state law creates the California ABLE Program Trust, the…

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Where it stands

This bill passed and is now law.

  1. Introduced (Done)

  2. Committee (Done)

  3. Floor (Done)

  4. Law (Done)

    Oct 4, 2017

What moved

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Who is involved

Sponsors

The lawmakers who put their names on it, lead sponsors first.

Where it goes next

Once a bill is decided, the questions are about what is done with it in California.

Work with this bill

The Qualified ABLE Program: tax-advantaged savings accounts. | 52