Delaware General Assembly

House Revenue & Finance 1/16/18

The General Assembly has ended, the current status is the final status.

1/16/18

Paradee

Sen. Poore

Reps. Hensley, Keeley, Mitchell, M. Smith, Spiegelman, Wilson
Sen. Henry, Richardson

AN ACT TO AMEND TITLE 30 OF THE DELAWARE CODE RELATING TO ABLE SAVINGS ACCOUNTS.

This bill creates a tax deduction of up to $2,500 for an individual or $5,000 for a married couple for contributions to a qualified 529A savings account, or "ABLE" plan - a special account for meeting the needs of certain individuals with disabilities. The deduction may only be claimed by a taxpayer who makes less than $125,000 or a married couple who makes less than $250,000. It is applicable only to ABLE plans sponsored by the State of Delaware or offered by a consortium of states of which Delaware is a member.

N/A

N/A

Takes effect upon being signed into law

N/A

View HTML View PDF