S 4493·Federal·senate
A bill to clarify the use of direct deposit for contributions to ABLE programs.
In CommitteeFiled May 12, 2026
Sponsor: Sen. Van Hollen, Chris [D-MD] (D)
Latest Action
Read twice and referred to the Committee on Finance.
May 12, 2026
Summary
The bill makes clear that existing law cannot be read to bar the use of direct deposit for contributions to qualified ABLE programs. It affects individuals with disabilities and anyone who contributes to an ABLE account, as well as banks and payroll processors. The change is intended to simplify how money can be deposited into these tax‑advantaged savings accounts.
AI-generated summary — may be incomplete or inaccurate. Verify against the official bill text.
Topics
Track this bill
Get real-time alerts when S 4493 changes status, plus AI-powered summaries and stage predictions.
Sign up free