Disability Savings Act of 2008
Latest action · Mar 11, 2008 Read twice and referred to the Committee on Finance. (text of measure as introduced: CR S1879-1882)
Progress
Where this bill reached, and when. A stage with no date was not reached; one that failed a vote and later carried shows the date it carried.
- IntroducedMar 11, 2008
- Passed SenateNot reached
- Passed HouseNot reached
- To the PresidentNot reached
- Became lawNot reached
Summary
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.
Cosponsors
Members who signed on, in the order they did.
Actions 3
Everything that happened, newest first.
- Mar 11, 2008Introduced in Senate
- Mar 11, 2008Read twice and referred to the Committee on Finance. (text of measure as introduced: CR S1879-1882)
- Mar 11, 2008Sponsor introductory remarks on measure. (CR S1878-1879)
Related bills 2
Companion bills and other measures the record links to this one.
| Bill | Title | Relationship | Latest action |
|---|---|---|---|
| HR 2370 | Financial Security Accounts for Individuals with Disabilities Act of 2007 | Related bill | May 17, 2007 |
| S 2743 | Financial Security Accounts for Individuals with Disabilities Act of 2008 | Related bill | Mar 11, 2008 |
Subjects
Assigned by the Library of Congress. Policy area: Taxation.
- Agriculture and Food
- Blind
- Cemeteries and funerals
- Clothing
- Disabled
- Education
- Education savings accounts
- Elementary and secondary education
- Employment of the disabled
- Finance and Financial Sector
- Government Operations and Politics
- Government publicity
- Health
- Higher education
- Income tax
- Labor and Employment
- Medicaid
- Medical savings accounts
- Nutrition
- Preschool education
- Respite care
- Saving and investment
- Self-help devices for the disabled
- Social Welfare
- Tax credits
- Tax exclusion
- Tax exemption
- Taxation
- Transportation and Public Works
- Transportation and the disabled
- Welfare eligibility
Text 1
Each version as it was printed, newest first.
- Mar 11, 2008Introduced in Senate
Everything here is as published by Congress: the summary is the Congressional Research Service's, the action wording is the clerks', and the subjects are the Library of Congress's. How far it got is read from the actions themselves, taking the most recent one of each kind, so a bill that failed a vote and later passed is shown as having passed. Records come from this bill on Congress.gov and govinfo.gov.