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Developed and maintained by the Division of Legislative Automated Systems.
2015 SESSION
HB 2306 ABLE savings trust accounts; established, administered by the Virginia College Savings Plan.
Introduced by: Eileen Filler-Corn | all patrons ... notes | add to my profiles
SUMMARY AS PASSED: (all summaries)
Achieving a Better Life Experience (ABLE) savings trust accounts established; administered by the Virginia College Savings Plan. Establishes ABLE savings trust accounts to be administered by the Virginia College Savings Plan to facilitate the saving of private funds for paying the qualified disability expenses of certain disabled individuals. Under the federal Achieving a Better Life Experience Act of 2014, Congress authorized states to establish ABLE savings trust accounts to assist individuals and families in saving and paying for the education, housing, transportation, employment training and support, assistive technology and personal support services, health, prevention and wellness, financial management and administrative services, and other expenses of individuals who were disabled or blind prior to the age of 26. Earnings on contributions to ABLE savings trust accounts are exempt from federal income tax.
Because Virginia conforms to the federal income tax laws, earnings on contributions to ABLE savings trust accounts will also be excluded from Virginia taxable income. This bill is identical to SB 1404.
FULL TEXT
- 01/22/15 House: Presented and ordered printed 15103326D pdf | impact statement
- 02/02/15 House: Committee substitute printed 15104527D-H1 pdf | impact statement
- 02/09/15 House: Floor substitute printed 15104956D-H2 (Ware) pdf
- 02/17/15 Senate: Committee substitute printed 15105184D-S1 pdf | impact statement
- 02/27/15 House: Bill text as passed House and Senate (HB2306ER) pdf | impact statement
- 03/17/15 Governor: Acts of Assembly Chapter text (CHAP0311) pdf
AMENDMENTS
HISTORY
- 01/22/15 House: Presented and ordered printed 15103326D
- 01/22/15 House: Referred to Committee on Education
- 01/26/15 House: Assigned Education sub: Higher Education
- 01/29/15 House: Subcommittee recommends reporting (8-Y 0-N)
- 01/29/15 House: Subcommittee recommends referring to Committee on Finance
- 02/02/15 House: Reported from Education with substitute (22-Y 0-N)
- 02/02/15 House: Committee substitute printed 15104527D-H1
- 02/02/15 House: Referred to Committee on Finance
- 02/04/15 House: Reported from Finance with amendment (20-Y 1-N)
- 02/06/15 House: Read first time
- 02/09/15 House: Floor substitute printed 15104956D-H2 (Ware)
- 02/09/15 House: Read second time
- 02/09/15 House: Committee substitute agreed to 15104527D-H1
- 02/09/15 House: Committee amendment agreed to
- 02/09/15 House: Committee substitute reconsidered
- 02/09/15 House: Committee substitute rejected 15104527D-H1
- 02/09/15 House: Committee amendment reconsidered
- 02/09/15 House: Committee amendment rejected
- 02/09/15 House: Substitute by Delegate Ware agreed to 15104956D-H2
- 02/09/15 House: Engrossed by House - floor substitute HB2306H2
- 02/10/15 House: Read third time and passed House (85-Y 15-N)
- 02/10/15 House: VOTE: PASSAGE (85-Y 15-N)
- 02/11/15 Senate: Constitutional reading dispensed
- 02/11/15 Senate: Referred to Committee on Education and Health
- 02/16/15 Senate: Reported from Education and Health (12-Y 0-N)
- 02/16/15 Senate: Rereferred to Finance
- 02/17/15 Senate: Reported from Finance with substitute (14-Y 0-N)
- 02/17/15 Senate: Committee substitute printed 15105184D-S1
- 02/18/15 Senate: Constitutional reading dispensed (38-Y 0-N)
- 02/18/15 Senate: Read third time
- 02/18/15 Senate: Reading of substitute waived
- 02/18/15 Senate: Committee substitute agreed to 15105184D-S1
- 02/18/15 Senate: Engrossed by Senate - committee substitute HB2306S1
- 02/18/15 Senate: Passed Senate with substitute (37-Y 0-N)
- 02/18/15 House: Placed on Calendar
- 02/18/15 House: Passed by temporarily
- 02/18/15 House: Senate substitute rejected by House 15105184D-S1 (0-Y 95-N)
- 02/18/15 House: VOTE: REJECTED (0-Y 95-N)
- 02/18/15 Senate: Senate insisted on substitute (38-Y 0-N)
- 02/18/15 Senate: Senate requested conference committee
- 02/18/15 House: House acceded to request
- 02/18/15 Senate: Conferees appointed by Senate
- 02/18/15 Senate: Senators: Stosch, Martin, Howell
- 02/18/15 House: Conferees appointed by House
- 02/18/15 House: Delegates: Filler-Corn, Jones, Massie
- 02/23/15 Conference: Amended by conference committee
- 02/23/15 House: Conference report agreed to by House (88-Y 9-N)
- 02/23/15 House: VOTE: ADOPTION (88-Y 9-N)
- 02/23/15 Senate: Conference report agreed to by Senate (40-Y 0-N)
- 02/27/15 House: Enrolled
- 02/27/15 House: Bill text as passed House and Senate (HB2306ER)
- 02/27/15 House: Signed by Speaker
- 02/27/15 Senate: Signed by President
- 03/04/15 House: Enrolled Bill communicated to Governor on 3/4/15
- 03/04/15 Governor: Governor's Action Deadline Midnight, Sunday, March 29, 2015
- 03/17/15 Governor: Approved by Governor-Chapter 311 (effective - 7/1/15 see bill)
- 03/17/15 Governor: Acts of Assembly Chapter text (CHAP0311)