US SB627

Permanently extends the provision allowing increased contributions to ABLE accounts for individuals with disabilities, removing the January 1, 2026 expiration date

Makes contributions to ABLE accounts permanently eligible for the Saver's Credit (a tax credit for low- and moderate-income individuals), while other qualified retirement contributions remain eligible only through December 31, 2026

Permanently extends the ability to roll over funds from 529 college savings plans to ABLE accounts without tax penalty, removing the January 1, 2026 expiration date

Repeals a conflicting provision from the SECURE 2.0 Act of 2022 to ensure proper coordination with the new permanent ABLE account rules

Introduced February 19, 2025 with bipartisan support from 14 senators and referred to the Senate Finance Committee