MI HB5781

Updates the definition of "Internal Revenue Code" in the Michigan ABLE program to reference the United States Internal Revenue Code of 1986 as in effect on January 1, 2024, or at the taxpayer's option, as in effect for the current year.

Maintains existing definitions for ABLE program terms including "eligible individual," "disability certification," "qualified disability expenses," and "qualified withdrawal" by cross-referencing Section 529A of the Internal Revenue Code.

Preserves the structure of the Michigan ABLE savings program, which allows individuals with disabilities and their family members to establish tax-advantaged savings accounts for qualified disability expenses.

Effective date is April 2, 2025.