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Committee gives favorable report to bill extending ABLE account tax deduction sunset five years
Summary
The committee approved HB52 to extend the sunset for the Alabama ABLE individual income tax deduction for contributions to ABLE accounts by five years; the committee recorded a favorable voice report.
The Ways and Means Education Committee gave a favorable report to HB52, a measure to extend the individual income tax deduction for contributions to Alabama Achieving a Better Life (ABLE) accounts for a five‑year period.
Chairman Garrett summarized that HB52 would continue the existing deduction of up to $5,000 annually for contributions to an Alabama ABLE account. The deduction applies to contributions to ABLE accounts established to allow eligible individuals under age 27 with disabilities to save for disability‑related expenses without jeopardizing federal or state benefits.
Garrett said the current sunset is December 31, 2025, and the bill would extend the sunset by five years to 2030. Representative Drummond moved for a favorable report and Representative Baker seconded; the committee approved the bill by voice vote. The transcript records committee action but does not record a roll‑call tally.
