House Bill 296
149th General Assembly (Present)
House Revenue & Finance 1/16/18
Committee Hearing takes place within twelve legislative days.
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.
Takes effect upon being signed into law