Amends TCA Section 71-4-803 and Section 71-4-806.
Tennessee HB0496 amends TCA Sections 71-4-803 and 71-4-806 to modify the provisions of the Achieving a Better Life Experience (ABLE) program. The bill expands the eligibility criteria for individuals who can benefit from the program by aligning the definitions of "eligible individual" and "disability certification" with those in the federal Internal Revenue Code. Key changes include removing restrictions on how funds in ABLE accounts can be spent and allowing multiple contributions to a single account for the benefit of an eligible individual.
Tennessee HB0496 amends TCA Sections 71-4-803 and 71-4-806 to modify the provisions of the Achieving a Better Life Experience (ABLE) program. The bill expands the eligibility criteria for individuals who can benefit from the program by aligning the definitions of "eligible individual" and "disability certification" with those in the federal Internal Revenue Code. Key changes include removing restrictions on how funds in ABLE accounts can be spent and allowing multiple contributions to a single account for the benefit of an eligible individual.
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