SB 452·VA·senate
Commonwealth Savers Plan; ImABLE accounts established, tax treatment.
In CommitteeFiled Jan 13, 2026
Sponsor: Jordan
Latest Action
Continued from last session
Jul 21, 2026
Summary
The bill establishes the Commonwealth Savers Plan, which lets qualifying individuals open ImABLE accounts. Contributions are made after tax, limited to $25,000 per year (adjusted for inflation), and qualified withdrawals are generally exempt from state income tax and penalties. It also creates a grant program to fund projects that assist these individuals with support costs.
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