Allows income tax deduction for contributions to a qualified ABLE program account.

This bill provides an income tax deduction for contributions to a qualified Achieving a Better Life Experience (ABLE) program account. It aligns the tax deductibility of these contributions with those made to a qualified tuition program under Section 529 of the Internal Revenue Code. The deduction is limited to $1,000 per eligible individual for tax years beginning on or after January 1, 2025.

Allows income tax deduction for contributions to a qualified ABLE program account.

This bill provides an income tax deduction for contributions to a qualified Achieving a Better Life Experience (ABLE) program account. It aligns the tax deductibility of these contributions with those made to a qualified tuition program under Section 529 of the Internal Revenue Code. The deduction is limited to $1,000 per eligible individual for tax years beginning on or after January 1, 2025.