ABLE Act Update

The Senate floor substitute for Senate Bill 174 (the Missouri ABLE Act) was perfected yesterday, and passed out of the Senate today. The vote was 32-0. The Senate floor substitute includes language that makes sure that the bill follows the federal ABLE Act in important areas, while also making it similar in some respects to Missouri‚Äôs MOST 529 college savings plans. A recap of the key features of the ABLE program is included at the end of this email. The bill now moves to the House of Representatives. It will then be assigned to a committee and have a hearing in the House, if it passes out of committee in the House then it will go to the floor of the House for votes. If it passes out of the House without changes it would go to the Governor’s desk. If the House makes changes to the version of the bill that it passes a group of senators and representatives will agree on a conference committee substitute. Then, both houses have to pass the conference substitute, then the conference substitute goes to the Governor’s desk, and if the Governor does not veto it, it will become law.

If you would like to contact your senator to thank them for passing the Missouri Able Act (SB 174), click here to find their contact information.