H. R. 5771—45 
(111) ABATEMENTS.—Section 6404(f) is amended by striking 
paragraph (3). 
(112) 2008 RECOVERY REBATE FOR INDIVIDUALS.— 
(A) Subchapter B of chapter 65 is amended by striking 
section 6428 (and by striking the item relating to such 
section in the table of sections for such subchapter). 
(B) Subparagraph (A) of section 6211(b)(4) is amended 
by striking ‘‘6428,’’. 
(C) Paragraph (2) of section 6213(g), as amended by 
section 214(a)(2) of this Act and paragraphs (4) and (5)(C) 
of this subsection, is amended by striking subparagraph 
(Q), by redesignating subparagraph (O) as subparagraph 
(N), by inserting ‘‘and’’ at the end of subparagraph (M), 
and by striking the comma at the end of subparagraph 
(N) (as so redesignated) and inserting a period. 
(D) Paragraph (2) of section 1324(b) of title 31, United 
States Code, is amended by striking ‘‘6428, or 6431,’’ and 
inserting ‘‘or 6431’’. 
(113) ADVANCE PAYMENT OF PORTION OF INCREASED CHILD 
CREDIT FOR 2003.—Subchapter B of chapter 65 is amended by 
striking section 6429 (and by striking the item relating to 
such section in the table of sections for such subchapter). 
(114) FAILURE BY CORPORATION TO PAY ESTIMATED INCOME 
TAX.—Clause (i) of section 6655(g)(4)(A) is amended by striking 
‘‘(or the corresponding provisions of prior law)’’. 
(115) RETIREMENT.—Section 7447(i)(3)(B)(ii) is amended by 
striking ‘‘at 4 percent per annum to December 31, 1947, and 
3 percent per annum thereafter’’, and inserting ‘‘at 3 percent 
per annum’’. 
(116) ANNUITIES TO SURVIVING SPOUSES AND DEPENDENT 
CHILDREN OF JUDGES.— 
(A) Paragraph (2) of section 7448(a) is amended— 
(i) by striking ‘‘or under section 1106 of the 
Internal Revenue Code of 1939’’, and 
(ii) by striking ‘‘or pursuant to section 1106(d) 
of the Internal Revenue Code of 1939’’. 
(B) Subsection (g) of section 7448 is amended by 
striking ‘‘or other than pursuant to section 1106 of the 
Internal Revenue Code of 1939’’. 
(C) Subsections (g), (j)(1), and (j)(2) of section 7448 
are each amended by striking ‘‘at 4 percent per annum 
to December 31, 1947, and 3 percent per annum thereafter’’ 
and inserting ‘‘at 3 percent per annum’’. 
(117) MERCHANT MARINE CAPITAL CONSTRUCTION FUNDS.— 
Paragraph (4) of section 7518(g) is amended by striking ‘‘any 
nonqualified withdrawal’’ and all that follows through ‘‘ ‘shall 
be determined’’ and inserting ‘‘any nonqualified withdrawal 
shall be determined’’. 
(118) VALUATION TABLES.— 
(A) Subsection (c) of section 7520 is amended by 
striking paragraph (2) and redesignating paragraph (3) 
as paragraph (2). 
(B) Paragraph (2) of section 7520(c) (as redesignated 
by subparagraph (A)) is amended— 
(i) by striking ‘‘Not later than December 31, 1989, 
the’’ and inserting ‘‘The’’, and
H. R. 5771—46 
(ii) by striking ‘‘thereafter’’ in the last sentence 
thereof. 
(119) DEFINITION
OF
EMPLOYEE.—Section 7701(a)(20) is 
amended by striking ‘‘chapter 21’’ and all that follows and 
inserting ‘‘chapter 21.’’. 
(b) EFFECTIVE DATE.— 
(1) GENERAL RULE.—Except as otherwise provided in sub-
section (a) or paragraph (2) of this subsection, the amendments 
made by this section shall take effect on the date of enactment 
of this Act. 
(2) SAVINGS PROVISION.—If— 
(A) any provision amended or repealed by the amend-
ments made by this section applied to— 
(i) any transaction occurring before the date of 
the enactment of this Act, 
(ii) any property acquired before such date of enact-
ment, or 
(iii) any item of income, loss, deduction, or credit 
taken into account before such date of enactment, and 
(B) the treatment of such transaction, property, or 
item under such provision would (without regard to the 
amendments or repeals made by this section) affect the 
liability for tax for periods ending after date of enactment, 
nothing in the amendments or repeals made by this section 
shall be construed to affect the treatment of such trans-
action, property, or item for purposes of determining 
liability for tax for periods ending after such date of enact-
ment. 
TITLE III—JOINT COMMITTEE ON 
TAXATION 
SEC. 301. INCREASED REFUND AND CREDIT THRESHOLD FOR JOINT 
COMMITTEE ON TAXATION REVIEW OF C CORPORATION 
RETURN. 
(a) IN GENERAL.—Subsections (a) and (b) of section 6405 are 
each amended by inserting ‘‘($5,000,000 in the case of a C corpora-
tion)’’ after ‘‘$2,000,000’’. 
(b) EFFECTIVE DATE.—The amendment made by this section 
shall take effect on the date of the enactment of this Act, except 
that such amendment shall not apply with respect to any refund 
or credit with respect to a report that has been made before such 
date under section 6405 of the Internal Revenue Code of 1986. 
TITLE IV—BUDGETARY EFFECTS 
SEC. 401. BUDGETARY EFFECTS. 
(a) PAYGO SCORECARD.—The budgetary effects of this Act shall 
not be entered on either PAYGO scorecard maintained pursuant 
to section 4(d) of the Statutory Pay-As-You-Go Act of 2010. 
(b) SENATE PAYGO SCORECARD.—The budgetary effects of this 
Act shall not be entered on any PAYGO scorecard maintained 
for purposes of section 201 of S. Con. Res. 21 (110th Congress).
H. R. 5771—47 
DIVISION B—ACHIEVING A BETTER 
LIFE EXPERIENCE ACT OF 2014 
SEC. 1. SHORT TITLE; ETC. 
(a) SHORT TITLE.—This division may be cited as the ‘‘Stephen 
Beck, Jr., Achieving a Better Life Experience Act of 2014’’ or the 
‘‘Stephen Beck, Jr., ABLE Act of 2014’’. 
(b) AMENDMENT OF 1986 CODE.—Except as otherwise expressly 
provided, whenever in this Act an amendment or repeal is expressed 
in terms of an amendment to, or repeal of, a section or other 
provision, the reference shall be considered to be made to a section 
or other provision of the Internal Revenue Code of 1986. 
TITLE I—QUALIFIED ABLE PROGRAMS 
SEC. 101. PURPOSES. 
The purposes of this title are as follows: 
(1) To encourage and assist individuals and families in 
saving private funds for the purpose of supporting individuals 
with disabilities to maintain health, independence, and quality 
of life. 
(2) To provide secure funding for disability-related expenses 
on behalf of designated beneficiaries with disabilities that will 
supplement, but not supplant, benefits provided through private 
insurance, the Medicaid program under title XIX of the Social 
Security Act, the supplemental security income program under 
title XVI of such Act, the beneficiary’s employment, and other 
sources. 
SEC. 102. QUALIFIED ABLE PROGRAMS. 
(a) IN GENERAL.—Subchapter F of chapter 1 is amended by 
inserting after section 529 the following new section: 
‘‘SEC. 529A. QUALIFIED ABLE PROGRAMS. 
‘‘(a) GENERAL RULE.—A qualified ABLE program shall be 
exempt from taxation under this subtitle. Notwithstanding the pre-
ceding sentence, such program shall be subject to the taxes imposed 
by section 511 (relating to imposition of tax on unrelated business 
income of charitable organizations). 
‘‘(b) QUALIFIED ABLE PROGRAM.—For purposes of this section— 
‘‘(1) IN
GENERAL.—The term ‘qualified ABLE program’ 
means a program established and maintained by a State, or 
agency or instrumentality thereof— 
‘‘(A) under which a person may make contributions 
for a taxable year, for the benefit of an individual who 
is an eligible individual for such taxable year, to an ABLE 
account which is established for the purpose of meeting 
the qualified disability expenses of the designated bene-
ficiary of the account, 
‘‘(B) which limits a designated beneficiary to 1 ABLE 
account for purposes of this section, 
‘‘(C) which allows for the establishment of an ABLE 
account only for a designated beneficiary who is a resident 
of such State or a resident of a contracting State, and
H. R. 5771—48 
‘‘(D) which meets the other requirements of this sec-
tion. 
‘‘(2) CASH CONTRIBUTIONS.—A program shall not be treated 
as a qualified ABLE program unless it provides that no con-
tribution will be accepted— 
‘‘(A) unless it is in cash, or 
‘‘(B) except in the case of contributions under sub-
section (c)(1)(C), if such contribution to an ABLE account 
would result in aggregate contributions from all contribu-
tors to the ABLE account for the taxable year exceeding 
the amount in effect under section 2503(b) for the calendar 
year in which the taxable year begins. 
For purposes of this paragraph, rules similar to the rules of 
section 408(d)(4) (determined without regard to subparagraph 
(B) thereof) shall apply. 
‘‘(3) SEPARATE
ACCOUNTING.—A program shall not be 
treated as a qualified ABLE program unless it provides separate 
accounting for each designated beneficiary. 
‘‘(4) LIMITED INVESTMENT DIRECTION.—A program shall not 
be treated as a qualified ABLE program unless it provides 
that any designated beneficiary under such program may, 
directly or indirectly, direct the investment of any contributions 
to the program (or any earnings thereon) no more than 2 
times in any calendar year. 
‘‘(5) NO PLEDGING OF INTEREST AS SECURITY.—A program 
shall not be treated as a qualified ABLE program if it allows 
any interest in the program or any portion thereof to be used 
as security for a loan. 
‘‘(6) PROHIBITION ON EXCESS CONTRIBUTIONS.—A program 
shall not be treated as a qualified ABLE program unless it 
provides adequate safeguards to prevent aggregate contribu-
tions on behalf of a designated beneficiary in excess of the 
limit established by the State under section 529(b)(6). For pur-
poses of the preceding sentence, aggregate contributions include 
contributions under any prior qualified ABLE program of any 
State or agency or instrumentality thereof. 
‘‘(c) TAX TREATMENT.— 
‘‘(1) DISTRIBUTIONS.— 
‘‘(A) IN GENERAL.—Any distribution under a qualified 
ABLE program shall be includible in the gross income 
of the distributee in the manner as provided under section 
72 to the extent not excluded from gross income under 
any other provision of this chapter. 
‘‘(B) 
DISTRIBUTIONS
FOR
QUALIFIED
DISABILITY 
EXPENSES.—For purposes of this paragraph, if distributions 
from a qualified ABLE program— 
‘‘(i) do not exceed the qualified disability expenses 
of the designated beneficiary, no amount shall be 
includible in gross income, and 
‘‘(ii) in any other case, the amount otherwise 
includible in gross income shall be reduced by an 
amount which bears the same ratio to such amount 
as such expenses bear to such distributions. 
‘‘(C) CHANGE IN DESIGNATED BENEFICIARIES OR PRO-
GRAMS.—
H. R. 5771—49 
‘‘(i) ROLLOVERS FROM ABLE ACCOUNTS.—Subpara-
graph (A) shall not apply to any amount paid or distrib-
uted from an ABLE account to the extent that the 
amount received is paid, not later than the 60th day 
after the date of such payment or distribution, into 
another ABLE account for the benefit of the same 
designated beneficiary or an eligible individual who 
is a family member of the designated beneficiary. 
‘‘(ii) CHANGE IN DESIGNATED BENEFICIARIES.—Any 
change in the designated beneficiary of an interest 
in a qualified ABLE program during a taxable year 
shall not be treated as a distribution for purposes 
of subparagraph (A) if the new beneficiary is an eligible 
individual for such taxable year and a member of the 
family of the former beneficiary. 
‘‘(iii) LIMITATION ON CERTAIN ROLLOVERS.—Clause 
(i) shall not apply to any transfer if such transfer 
occurs within 12 months from the date of a previous 
transfer to any qualified ABLE program for the benefit 
of the designated beneficiary. 
‘‘(D) OPERATING RULES.—For purposes of applying sec-
tion 72— 
‘‘(i) except to the extent provided by the Secretary, 
all distributions during a taxable year shall be treated 
as one distribution, and 
‘‘(ii) except to the extent provided by the Secretary, 
the value of the contract, income on the contract, and 
investment in the contract shall be computed as of 
the close of the calendar year in which the taxable 
year begins. 
‘‘(2) GIFT TAX RULES.—For purposes of chapters 12 and 
13— 
‘‘(A) CONTRIBUTIONS.—Any contribution to a qualified 
ABLE program on behalf of any designated beneficiary— 
‘‘(i) shall be treated as a completed gift to such 
designated beneficiary which is not a future interest 
in property, and 
‘‘(ii) shall not be treated as a qualified transfer 
under section 2503(e). 
‘‘(B) TREATMENT OF DISTRIBUTIONS.—In no event shall 
a distribution from an ABLE account to such account’s 
designated beneficiary be treated as a taxable gift. 
‘‘(C) TREATMENT
OF
TRANSFER
TO
NEW
DESIGNATED 
BENEFICIARY.—The taxes imposed by chapters 12 and 13 
shall not apply to a transfer by reason of a change in 
the designated beneficiary under subsection (c)(1)(C). 
‘‘(3) ADDITIONAL
TAX
FOR
DISTRIBUTIONS
NOT
USED
FOR 
DISABILITY EXPENSES.— 
‘‘(A) IN GENERAL.—The tax imposed by this chapter 
for any taxable year on any taxpayer who receives a dis-
tribution from a qualified ABLE program which is includ-
ible in gross income shall be increased by 10 percent of 
the amount which is so includible. 
‘‘(B) EXCEPTION.—Subparagraph (A) shall not apply 
if the payment or distribution is made to a beneficiary 
(or to the estate of the designated beneficiary) on or after 
the death of the designated beneficiary.
H. R. 5771—50 
‘‘(C) 
CONTRIBUTIONS
RETURNED
BEFORE
CERTAIN 
DATE.—Subparagraph (A) shall not apply to the distribution 
of any contribution made during a taxable year on behalf 
of the designated beneficiary if— 
‘‘(i) such distribution is received on or before the 
day prescribed by law (including extensions of time) 
for filing such designated beneficiary’s return for such 
taxable year, and 
‘‘(ii) such distribution is accompanied by the 
amount of net income attributable to such excess con-
tribution. 
Any net income described in clause (ii) shall be included 
in gross income for the taxable year in which such excess 
contribution was made. 
‘‘(4) LOSS
OF
ABLE
ACCOUNT
TREATMENT.—If an ABLE 
account is established for a designated beneficiary, no account 
subsequently established for such beneficiary shall be treated 
as an ABLE account. The preceding sentence shall not apply 
in the case of an account established for purposes of a rollover 
described in paragraph (1)(C)(i) of this section if the transferor 
account is closed as of the end of the 60th day referred to 
in paragraph (1)(C)(i). 
‘‘(d) REPORTS.— 
‘‘(1) IN GENERAL.—Each officer or employee having control 
of the qualified ABLE program or their designee shall make 
such reports regarding such program to the Secretary and 
to designated beneficiaries with respect to contributions, dis-
tributions, the return of excess contributions, and such other 
matters as the Secretary may require. 
‘‘(2) CERTAIN
AGGREGATED
INFORMATION.—For research 
purposes, the Secretary shall make available to the public 
reports containing aggregate information, by diagnosis and 
other relevant characteristics, on contributions and distribu-
tions from the qualified ABLE program. In carrying out the 
preceding sentence an item may not be made available to 
the public if such item can be associated with, or otherwise 
identify, directly or indirectly, a particular individual. 
‘‘(3) NOTICE OF ESTABLISHMENT OF ABLE ACCOUNT.—A quali-
fied ABLE program shall submit a notice to the Secretary 
upon the establishment of an ABLE account. Such notice shall 
contain the name and State of residence of the designated 
beneficiary and such other information as the Secretary may 
require. 
‘‘(4) ELECTRONIC DISTRIBUTION STATEMENTS.—For purposes 
of section 4 of the Achieving a Better Life Experience Act 
of 2014, States shall submit electronically on a monthly basis 
to the Commissioner of Social Security, in the manner specified 
by the Commissioner, statements on relevant distributions and 
account balances from all ABLE accounts. 
‘‘(5) REQUIREMENTS.—The reports and notices required by 
paragraphs (1), (2), and (3) shall be filed at such time and 
in such manner and furnished to such individuals at such 
time and in such manner as may be required by the Secretary. 
‘‘(e) OTHER DEFINITIONS AND SPECIAL RULES.—For purposes 
of this section— 
‘‘(1) ELIGIBLE INDIVIDUAL.—An individual is an eligible indi-
vidual for a taxable year if during such taxable year—
H. R. 5771—51 
‘‘(A) the individual is entitled to benefits based on 
blindness or disability under title II or XVI of the Social 
Security Act, and such blindness or disability occurred 
before the date on which the individual attained age 26, 
or 
‘‘(B) a disability certification with respect to such indi-
vidual is filed with the Secretary for such taxable year. 
‘‘(2) DISABILITY CERTIFICATION.— 
‘‘(A) IN
GENERAL.—The term ‘disability certification’ 
means, with respect to an individual, a certification to 
the satisfaction of the Secretary by the individual or the 
parent or guardian of the individual that— 
‘‘(i) certifies that— 
‘‘(I) the individual has a medically deter-
minable physical or mental impairment, which 
results in marked and severe functional limita-
tions, and which can be expected to result in death 
or which has lasted or can be expected to last 
for a continuous period of not less than 12 months, 
or is blind (within the meaning of section 
1614(a)(2) of the Social Security Act), and 
‘‘(II) such blindness or disability occurred 
before the date on which the individual attained 
age 26, and 
‘‘(ii) includes a copy of the individual’s diagnosis 
relating to the individual’s relevant impairment or 
impairments, signed by a physician meeting the cri-
teria of section 1861(r)(1) of the Social Security Act. 
‘‘(B) RESTRICTION
ON
USE
OF
CERTIFICATION.—No 
inference may be drawn from a disability certification for 
purposes of establishing eligibility for benefits under title 
II, XVI, or XIX of the Social Security Act. 
‘‘(3) DESIGNATED BENEFICIARY.—The term ‘designated bene-
ficiary’ in connection with an ABLE account established under 
a qualified ABLE program means the eligible individual who 
established an ABLE account and is the owner of such account. 
‘‘(4) MEMBER OF FAMILY.—The term ‘member of the family’ 
means, with respect to any designated beneficiary, an individual 
who bears a relationship to such beneficiary which is described 
in subparagraph section 152(d)(2)(B). For purposes of the pre-
ceding sentence, a rule similar to the rule of section 152(f)(1)(B) 
shall apply. 
‘‘(5) QUALIFIED DISABILITY EXPENSES.—The term ‘qualified 
disability expenses’ means any expenses related to the eligible 
individual’s blindness or disability which are made for the 
benefit of an eligible individual who is the designated bene-
ficiary, including the following expenses: education, housing, 
transportation, employment training and support, assistive 
technology and personal support services, health, prevention 
and wellness, financial management and administrative serv-
ices, legal fees, expenses for oversight and monitoring, funeral 
and burial expenses, and other expenses, which are approved 
by the Secretary under regulations and consistent with the 
purposes of this section. 
‘‘(6) ABLE ACCOUNT.—The term ‘ABLE account’ means an 
account established by an eligible individual, owned by such
H. R. 5771—52 
eligible individual, and maintained under a qualified ABLE 
program. 
‘‘(7) CONTRACTING
STATE.—The term ‘contracting State’ 
means a State without a qualified ABLE program which has 
entered into a contract with a State with a qualified ABLE 
program to provide residents of the contracting State access 
to a qualified ABLE program. 
‘‘(f) TRANSFER TO STATE.—Subject to any outstanding payments 
due for qualified disability expenses, upon the death of the des-
ignated beneficiary, all amounts remaining in the qualified ABLE 
account not in excess of the amount equal to the total medical 
assistance paid for the designated beneficiary after the establish-
ment of the account, net of any premiums paid from the account 
or paid by or on behalf of the beneficiary to a Medicaid Buy- 
In program under any State Medicaid plan established under title 
XIX of the Social Security Act, shall be distributed to such State 
upon filing of a claim for payment by such State. For purposes 
of this paragraph, the State shall be a creditor of an ABLE account 
and not a beneficiary. Subsection (c)(3) shall not apply to a distribu-
tion under the preceding sentence. 
‘‘(g) REGULATIONS.—The Secretary shall prescribe such regula-
tions or other guidance as the Secretary determines necessary or 
appropriate to carry out the purposes of this section, including 
regulations— 
‘‘(1) to enforce the 1 ABLE account per eligible individual 
limit, 
‘‘(2) providing for the information required to be presented 
to open an ABLE account, 
‘‘(3) to generally define qualified disability expenses, 
‘‘(4) developed in consultation with the Commissioner of 
Social Security, relating to disability certifications and deter-
minations of disability, including those conditions deemed to 
meet the requirements of subsection (e)(1)(B), 
‘‘(5) to prevent fraud and abuse with respect to amounts 
claimed as qualified disability expenses, 
‘‘(6) under chapters 11, 12, and 13 of this title, and 
‘‘(7) to allow for transfers from one ABLE account to 
another ABLE account.’’. 
(b) TAX ON EXCESS CONTRIBUTIONS.— 
(1) IN GENERAL.—Subsection (a) of section 4973 (relating 
to tax on excess contributions to certain tax-favored accounts 
and annuities) is amended by striking ‘‘or’’ at the end of para-
graph (4), by inserting ‘‘or’’ at the end of paragraph (5), and 
by inserting after paragraph (5) the following new paragraph: 
‘‘(6) an ABLE account (within the meaning of section 
529A),’’. 
(2) EXCESS CONTRIBUTION.—Section 4973 is amended by 
adding at the end the following new subsection: 
‘‘(h) EXCESS CONTRIBUTIONS TO ABLE ACCOUNT.—For purposes 
of this section— 
‘‘(1) IN GENERAL.—In the case of an ABLE account (within 
the meaning of section 529A), the term ‘excess contributions’ 
means the amount by which the amount contributed for the 
taxable year to such account (other than contributions under 
section 529A(c)(1)(C)) exceeds the contribution limit under sec-
tion 529A(b)(2)(B).
H. R. 5771—53 
‘‘(2) SPECIAL RULE.—For purposes of this subsection, any 
contribution which is distributed out of the ABLE account 
in a distribution to which the last sentence of section 529A(b)(2) 
applies shall be treated as an amount not contributed.’’. 
(c) PENALTY FOR FAILURE TO FILE REPORTS.—Section 6693(a)(2) 
is amended by striking ‘‘and’’ at the end of subparagraph (D), 
by redesignating subparagraph (E) as subparagraph (F), and by 
inserting after subparagraph (D) the following: 
‘‘(E) section 529A(d) (relating to qualified ABLE pro-
grams), and’’. 
(d) RECORDS.—Section 552a(a)(8)(B) of title 5, United States 
Code, is amended— 
(1) in clause (viii), by striking ‘‘or’’ at the end; 
(2) in clause (ix), by adding ‘‘or’’ at the end; and 
(3) by adding at the end the following new clause: 
‘‘(x) matches performed pursuant to section 3(d)(4) 
of the Achieving a Better Life Experience Act of 2014;’’. 
(e) OTHER CONFORMING AMENDMENTS.— 
(1) Section 26(b)(2) is amended by striking ‘‘and’’ at the 
end of subparagraph (W), by striking the period at the end 
of subparagraph (X) and inserting ‘‘, and’’, and by inserting 
after subparagraph (X) the following: 
‘‘(Y) section 529A(c)(3)(A) (relating to additional tax 
on ABLE account distributions not used for qualified dis-
ability expenses).’’. 
(2) Section 877A is amended— 
(A) in subsection (e)(2) by inserting ‘‘a qualified ABLE 
program (as defined in section 529A),’’ after ‘‘529),’’, and 
(B) in subsection (g)(6) by inserting ‘‘529A(c)(3),’’ after 
‘‘529(c)(6),’’. 
(3) Section 4965(c) is amended by striking ‘‘or’’ at the 
end of paragraph (6), by striking the period at the end of 
paragraph (7) and inserting ‘‘, or’’, and by inserting after para-
graph (7) the following new paragraph: 
‘‘(8) a program described in section 529A.’’. 
(4) The heading for part VIII of subchapter F of chapter 
1 is amended by striking ‘‘HIGHER EDUCATION’’ and inserting 
‘‘CERTAIN’’. 
(5) The item in the table of parts for subchapter F of 
chapter 1 relating to part VIII is amended to read as follows: 
‘‘PART VIII. CERTAIN SAVINGS ENTITIES.’’. 
(6) The table of sections for part VIII of subchapter F 
of chapter 1 is amended by inserting after the item relating 
to section 529 the following new item: 
‘‘Sec. 529A. Qualified ABLE programs.’’. 
(7) Paragraph (4) of section 1027(g) of the Consumer Finan-
cial Protection Act of 2010 (12 U.S.C. 5517(g)(4)) is amended 
by inserting ‘‘, 529A’’ after ‘‘529’’. 
(f) EFFECTIVE DATE.— 
(1) IN GENERAL.—The amendments made by this section 
shall apply to taxable years beginning after December 31, 2014. 
(2) REGULATIONS.—The Secretary of the Treasury (or the 
Secretary’s designee) shall promulgate the regulations or other