S.2741 - Disability Savings Act of 2008

A bill to amend the Internal Revenue Code of 1986 to provide for disability savings accounts, and for other purposes. view all titles (2)

All Bill Titles

  • Official: A bill to amend the Internal Revenue Code of 1986 to provide for disability savings accounts, and for other purposes. as introduced.
  • Short: Disability Savings Act of 2008 as introduced.

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Introduced
 
Senate
Passes
 
House
Passes
 
President
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03/10/08
 
 
 
 
 
 
 

Official Summary

3/11/2008--Introduced.Disability Savings Act of 2008 - Amends the Internal Revenue Code to allow a tax exemption for disability savings accounts that have a value of $250,000 or less and are established for beneficiaries under the age of 65 who are blind or disabled.Allows tax-free distrib

Official Summary

3/11/2008--Introduced.
Disability Savings Act of 2008 - Amends the Internal Revenue Code to allow a tax exemption for disability savings accounts that have a value of $250,000 or less and are established for beneficiaries under the age of 65 who are blind or disabled.
Allows tax-free distributions from such accounts for certain services provided to account beneficiaries, including education services, respite care, clothing, therapy, nutritional management, and funeral and burial expenses.
Allows tax credits for contributions of up to $2,000 made to a disability savings account and for certain entities that maintain disability savings accounts.
Permits disability savings accounts to be disregarded in determining eligibility for Medicaid benefits and certain other means-tested federal programs.
Requires the Secretary of Health and Human Services to establish a program for marketing, outreach, and education related to disability savings accounts.


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Recent News Coverage

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Recent Blog Coverage

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11/03/09
S.2741: Rural Telemedicine Enhancing Community Health (TECH) Act ...

1981-82 miscellaneous tax bills, XVII: hearing before the Subcommittee on Taxation and Debt Management of the Committee on Finance, United States Senate, … on S. 232 and S. 2741, September 23, 1982. Product Description . ... OpenCongress is a free and op

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12/30/08
United States DSP Initiatives « Registered Disability Savings Plan

Because the election of Barack Obama and the meltdown of the economy dominated US news headlines in 2008, it is not surprising that we didn’t hear much about Bills S.2741 and S.2743 that were introduced to the US Congress in March of ...

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12/06/08
realityblah: Another form letter...

In fact, S. 2741 authorizes specific “Disability Savings Accounts,” which are similar in many respects to existing 529 college savings plans. Provided certain rules are met, Disability Savings Accounts will be exempt from federal ...

Source: realityblah
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