SB25-302
Achieving a Better Life Experience Tax Deduction
Concerning extending the achieving a better life experience state income tax deduction.
Session:
2025 Regular Session
Subject:
Bill Summary
Fiscal Policy & Taxes
The act extends the achieving a better life experience state income tax deduction (ABLE deduction) until December 31, 2030.
The act specifies that the purposes of the ABLE deduction are to provide support to individuals with disabilities and their families and to provide an incentive for individuals with disabilities and their families to set aside money in an account to cover future disability-related expenses.
(Note: This summary applies to this bill as enacted.)