Achieving a Better Life Experience Act of 2014
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The Achieving a Better Life Experience Act of 2014 is a U.S. federal law that created tax-advantaged savings accounts (ABLE accounts) to help individuals with disabilities and their families save for disability-related expenses without losing eligibility for means-tested public benefits.
Statements (49)
| Predicate | Object |
|---|---|
| instanceOf |
United States federal law
ⓘ
social welfare legislation ⓘ tax law ⓘ |
| accountName | ABLE account ⓘ |
| allows | states to establish and maintain ABLE programs ⓘ |
| alsoKnownAs | ABLE Act NERFINISHED ⓘ |
| appliesTo | eligible individuals with significant disabilities ⓘ |
| appliesToJurisdiction |
United States government
ⓘ
surface form:
federal government of the United States
|
| benefitType |
asset protection for public benefit eligibility
ⓘ
tax preference ⓘ |
| chamberInvolved |
United States House of Representatives
ⓘ
United States Senate ⓘ |
| concerns |
asset limits for means-tested benefits
ⓘ
qualified disability expenses ⓘ |
| country | United States of America ⓘ |
| creates | ABLE account ⓘ |
| enables | saving for qualified disability-related expenses ⓘ |
| fullName | Achieving a Better Life Experience Act of 2014 NERFINISHED ⓘ |
| goal |
to increase financial independence for people with disabilities
ⓘ
to reduce disincentives to work and save for individuals with disabilities ⓘ |
| hasAbbreviation | ABLE NERFINISHED ⓘ |
| hasComponent |
rules for ABLE account contribution limits
ⓘ
rules for qualified disability expenses ⓘ |
| intendedEffect | to encourage long-term savings for disability-related needs ⓘ |
| isPartOf | United States disability rights framework ⓘ |
| isRelatedTo |
Americans with Disabilities Act of 1990
NERFINISHED
ⓘ
Social Security Act NERFINISHED ⓘ |
| language | English ⓘ |
| legalEffect | amended the Internal Revenue Code to add section governing ABLE accounts ⓘ |
| legalStatus | in force ⓘ |
| legislativeBody | United States Congress ⓘ |
| policyArea |
health and human services
ⓘ
social security and disability assistance ⓘ taxation ⓘ |
| primaryPurpose |
to allow individuals with disabilities to save for disability-related expenses without losing eligibility for means-tested public benefits
ⓘ
to create tax-advantaged savings accounts for individuals with disabilities ⓘ |
| protects | eligibility for means-tested public benefits ⓘ |
| regulates | tax treatment of ABLE account contributions and distributions ⓘ |
| relatedProgram |
Medicaid
NERFINISHED
ⓘ
Supplemental Security Income NERFINISHED ⓘ |
| shortName | ABLE Act of 2014 NERFINISHED ⓘ |
| signedBy | Barack Obama NERFINISHED ⓘ |
| subjectMatter |
disability policy
ⓘ
public benefits eligibility ⓘ tax-advantaged savings ⓘ |
| targetPopulation |
families of individuals with disabilities
ⓘ
individuals with disabilities ⓘ |
| typeOfAccountCreated | tax-advantaged savings account ⓘ |
| yearEnacted | 2014 ⓘ |
Referenced by (1)
Full triples — surface form annotated when it differs from this entity's canonical label.