State of NH proposed ABLE Regulations
September 22, 2015
President Barack Obama signed the Achieving a Better Life Experience, or
ABLE, Act on December 19, 2014, paving the way for people with disabilities to
open tax-free savings accounts where they can amass more than $2,000 without
losing government benefits. On February 17, 2015 the Senate and House of
Representatives unanimously passed this legislation for the state of New
The ABLE Act creates a new section 529A of the Internal Revenue Code that
permits a state to establish and maintain a new type of tax-advantage savings
program, under which contributions may be made to an ABLE account that is
established for the purpose of meeting the qualified disability expenses of the
designated beneficiary of the account who is a resident of that state and who
is disabled. CLICK HERE to read the Purpose and Background of ABLE Act.
CLICK HERE to read Senate Bill 265-FN, a proposal for implementing ABLE Act accounts in NH. If you are interested in reading the IRS regulations regarding the implementation of the ABLE act, click here.