What does Preamble of ABLE MATCH (Making Able a Tool to Combat Hardship) Act do?

This bill, formally titled 'To amend the Internal Revenue Code of 1986 to provide matching payments for ABLE account contributions by certain individuals, and for other purposes,' proposes amendments to the Internal Revenue Code of 1986. The bill aims to provide matching payments for ABLE (Achieving a Better Life Experience) account contributions by certain individuals. The bill was introduced in the Senate on May 12, 2026, by Mr. Van Hollen, along with Mr. Moran, Ms. Klobuchar, and Mr. Tillis.

What does SHORT TITLE. of ABLE MATCH (Making Able a Tool to Combat Hardship) Act do?

This bill is formally titled the ``ABLE MATCH (Making Able a Tool to Combat Hardship) Act''.

What does MATCHING PAYMENTS FOR ABLE ACCOUNT CONTRIBUTIONS BY CERTAIN of ABLE MATCH (Making Able a Tool to Combat Hardship) Act do?

This section amends the Internal Revenue Code to allow a matching contribution for certain individuals who are designated beneficiaries of an ABLE account and make qualified ABLE account contributions. The matching contribution amount is equal to 100 percent of qualified contributions not exceeding $2,000, but may be reduced based on the taxpayer's modified adjusted gross income. The matching contribution is generally provided as a credit payable by the Secretary, but can be treated as a credit under subpart C of part IV of subchapter A of chapter 1 if the matching contribution is less than $50. Qualified ABLE account contributions are defined as contributions made by the individual to their ABLE account, reduced by aggregate distributions received during a testing period. The $56,000 applicable dollar amount for income phaseouts will be adjusted for inflation beginning in 2027. Payments will be made to U.S. possessions with mirror code tax systems to offset revenue loss, and to other possessions based on estimated benefits. Taxpayers can elect not to have this section apply for any taxable year.

What does DEMOGRAPHIC REPORTING WITH RESPECT TO ABLE ACCOUNTS. of ABLE MATCH (Making Able a Tool to Combat Hardship) Act do?

This section amends Section 529A(d)(1) of the Internal Revenue Code of 1986. Qualified ABLE programs are required to include demographic information in reports to the Secretary. The demographic information must include race, gender, and disability type, relating to designated beneficiaries of ABLE accounts. The amendment applies to reports made after the enactment of this section.

What does GRANTS TO PROMOTE USE OF ABLE ACCOUNTS AND THE MATCHING of ABLE MATCH (Making Able a Tool to Combat Hardship) Act do?

This section authorizes grants to States to promote ABLE accounts and matching payments for contributions to those accounts. The Secretary of the Treasury (or their delegate) is responsible for awarding these grants. The grants are intended to enable States to promote ABLE accounts as defined in section 529A(e) of the Internal Revenue Code of 1986. The grants also aim to promote matching payments for contributions to ABLE accounts, as provided under section 6433A of the Internal Revenue Code. A total of $5,000,000 is authorized for appropriation each fiscal year from 2027 through 2030 to carry out this section.

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ABLE MATCH (Making Able a Tool to Combat Hardship) Act

Last updated: 5/12/2026 · Introduced: 5/12/2026

Author: Chris Van Hollen (D-MD)

TL;DR (AI)

This bill establishes a matching contribution program, providing a credit equal to 100% of qualified ABLE account contributions up to $2,000, adjusted for inflation, for eligible individuals.
Qualified ABLE programs must report demographic information (race, gender, and disability type) of designated beneficiaries to the Secretary of the Treasury.
The bill authorizes $5 million in annual grants from 2027 through 2030 to states for promoting ABLE accounts and the new matching payment program.

119th Congressin committeeOfficial page

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Includes provisions on preamble, short title., and 3 more.

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