S4493Referred to Committee

A bill to clarify the use of direct deposit for contributions to ABLE programs.

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Introduced
In Committee
3
Passed One Chamber
4
Passed Both
5
Signed into Law
119th
Congress
2026-05-12
Introduced
7
Cosponsors
S
ⓘ
Type

Sponsor

Chris Van Hollen
Chris Van Hollen
Democrat · MD · Senator
Votes with party: 85.6% (845 recorded votes)

Full profile: /officials/V000128

Source: Congress.gov · FEC

Cosponsors (7)

Members who have signed on to support this bill since introduction. Source: Congress.gov.

Latest Action

The most recent step in the bill's legislative path. Committee Activity below shows referrals and reports; the full action-by-action history including floor proceedings lives at Congress.gov →

Read twice and referred to the Committee on Finance.

2026-05-12

Source: Congress.gov

Committee Activity

Currently in

Plain-English Summary

The bill would allow people to set up automatic transfers from their paychecks directly into ABLE savings accounts, which are special tax-advantaged accounts designed for individuals with disabilities to save money without losing government benefits. This change would make it easier for workers with disabilities and their families to build savings by using the same direct deposit system many people already use for their regular bank accounts. The measure clarifies that employers and financial institutions can process these automatic transfers the same way they handle regular paycheck deposits.

AI-assisted summary generated from the official bill metadata (title, subjects, actions) sourced from Congress.gov. Cached and reviewed. Always verify against the official text linked below.

Subjects

Taxation

Full Bill Text

Verbatim text published on Congress.gov via GovInfo. Use Cmd+F / Ctrl+F to search within this excerpt.

[Congressional Bills 119th Congress] [From the U.S. Government Publishing Office] [S. 4493 Introduced in Senate (IS)] <DOC> 119th CONGRESS 2d Session S. 4493 To clarify the use of direct deposit for contributions to ABLE programs. _______________________________________________________________________ IN THE SENATE OF THE UNITED STATES May 12, 2026 Mr. Van Hollen (for himself, Mr. Moran, Ms. Klobuchar, and Mr. Tillis) introduced the following bill; which was read twice and referred to the Committee on Finance _______________________________________________________________________ A BILL To clarify the use of direct deposit for contributions to ABLE programs. Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled, SECTION 1. USE OF DIRECT DEPOSIT FOR CONTRIBUTIONS TO ABLE PROGRAMS. No provision of law shall be construed to prevent the use of direct deposit for making contributions to qualified ABLE programs (as defined in section 529A of the Internal Revenue Code of 1986). <all>
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