Colorado 2022 Regular Session Status: Enacted 1 D cosponsors

HB 22-1320 — Achieving A Better Life Experience Savings Accounts

Last action — Governor Signed

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  1. ✓
    Introduced
  2. ✓
    In Committee
  3. ✓
    Passed House
  4. ✓
    Passed Senate
  5. ✓
    To Executive
  6. 6
    Enacted

This bill has been enacted into law. Introduced March 24, 2022. Enacted.

Prognosis

Likely to advance 78% · moderate confidence

Where this bill stands today.

Odds of enactment

High

How often bills like it became law.

  • Enacted

    Current position in the legislative process.

  • 4 sponsors

    4 primary, 0 co-sponsors signed on.

  • Single-party support

    Sponsorship is currently within one party (1 D).

  • Cleared a recorded vote

    Passed 2 recorded votes so far.

Prognosis reads this bill's own signals — stage, sponsorship breadth, committee status, recorded votes and cross-state momentum. Odds come from a model trained on which bills have become law.

Summary

The collegeinvest authority administers the achieving a better life experience (ABLE) savings program. Individuals who were declared disabled, as defined under federal law, before reaching 26 years of age are eligible to open an ABLE savings account. ABLE savings accounts under section 529A of the internal revenue code are modeled after section 529 college savings accounts, but, unlike those accounts, ABLE savings accounts may be used to save for many expenses related to an individual's disability without disqualifying the individual for certain federal benefits. The act modifies the administration and operation of these accounts in 2 ways. First, the act allows a person other than the individual with a disability to open an ABLE savings account for the individual and to have signature authority over that account. Second, the act prohibits the state from filing a claim against the ABLE savings account upon the account owner's death for outstanding payments due for qualified disability expenses. The act also modifies the tax benefits associated with an ABLE savings account for the 2023, 2024, and 2025 tax years. Under the act, a taxpayer may deduct from their federal taxable income for purposes of calculating their state taxable income certain contributions made to an ABLE savings account. Further, the act ensures that a taxpayer does not encounter tax recapture of any deductions claimed for these contributions when distributions are made from an ABLE savings account for qualified disability expenses. $44,517 is appropriated from the general fund to the department of revenue for the implementation of the act. (Note: This summary applies to this bill as enacted.)

Bill Text

What changed in the latest version

199 added · 156 removed

Plain-language change summary

The amendment to HB 22-1320 modifies who can create and control an Achieving a Better Life Experience (ABLE) program account and prevents the state from making certain claims against such accounts after the death of the designated beneficiary. Additionally, it allows contributions to these accounts that are withdrawn for qualified disability expenses to be deducted from a taxpayer's federal taxable income when determining the taxpayer's state taxable income. This change may affect how individuals with disabilities manage their savings and handle taxes related to ABLE accounts.

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Second Regular Session Seventy-third General Assembly STATE OF COLORADO ENGROSSED This Version Includes All Amendments Adopted on Second Reading in the House of Introduction LLS NO.
Second Regular Session Seventy-third General Assembly STATE OF COLORADO REENGROSSED This Version Includes All Amendments Adopted in the House of Introduction LLS NO.
22-0940.01 Pierce Lively x2059 HOUSE BILL 22-1320 HOUSE SPONSORSHIP Kipp and Larson, SENATE SPONSORSHIP Zenzinger and Woodward, House Committees Senate Committees Public & Behavioral Health & Human Services Finance Appropriations A BILL FOR AN ACT CONCERNING THE ACHIEVING A BETTER LIFE EXPERIENCE (ABLE) SAVINGS PROGRAM FOR INDIVIDUALS WITH DISABILITIES ,AND , INCONNECTIONTHEREWITH ,MODIFYINGWHOMAYCREATEAND CONTROL AN ABLE PROGRAM ACCOUNT , PREVENTING THE STATE FROM FILING CERTAIN CLAIMS AGAINST AN ABLE PROGRAM ACCOUNT UPON THE DEATH OF THE DESIGNATED BENEFICIARY ,AND ALLOWING CONTRIBUTIONS TO AN ABLE PROGRAM ACCOUNT THAT ARE WITHDRAWN FOR QUALIFIED DISABILITY EXPENSES TO BE DEDUCTED FROM A TAXPAYER 'S FEDERAL TAXABLE INCOME FOR PURPOSES OF DETERMINING THE TAXPAYER S STATE TAXABLE INCOME , AND MAKING AN APPROPRIATION .
22-0940.01 Pierce Lively x2059 HOUSE BILL 22-1320 HOUSE SPONSORSHIP Kipp and Larson, Amabile, Bacon, Benavidez, Bernett, Bird, Boesenecker, Daugherty, Exum, Gonzales-Gutierrez, Herod, Hooton, Jodeh, Lontine, McCluskie, McCormick, MichaelsonJenet,Mullica,Ortiz,Pico,Ricks,Snyder,Tipper,Titone,ValdezA.,ValdezD., Weissman, Will, Woodrow, Young SENATE SPONSORSHIP Zenzinger and Woodward, House Committees Senate Committees Public & Behavioral Health & Human Services Finance Appropriations A BILL FOR AN ACT C ONCERNING THE ACHIEVING A BETTER LIFE EXPERIENCE (ABLE) SAVINGS PROGRAM FOR INDIVIDUALS WITH DISABILITIES ,AND , INCONNECTIONTHEREWITH ,MODIFYINGWHOMAYCREATEAND CONTROL AN ABLE PROGRAM ACCOUNT ,PREVENTING THE STATE FROM FILING CERTAIN CLAIMS AGAINST AN ABLE PROGRAM ACCOUNT UPON THE DEATH OF THE DESIGNATED e e 2 BENEFICIARY ,AND ALLOWING CONTRIBUTIONS TO AN ABLE a 0 S U , PROGRAM ACCOUNT THAT ARE WITHDRAWN FOR QUALIFIED O g 2 H d r DISABILITY EXPENSES TO BE DEDUCTED FROM A TAXPAYER 'S e A r FEDERAL TAXABLE INCOME FOR PURPOSES OF DETERMINING 3 THE TAXPAYER 'S STATE TAXABLE INCOME , AND MAKING AN APPROPRIATION .
i2 a0 S R, O n2 Shading denotes HOUSE amendment.
g d 2 E ea 2 U R 2 O n i Shading denotes HOUSE amendment.
Capital letters or bold & italic numbers indicate new material to be added to dxisting statute.
H d p Capital letters or bold & italic numbers indicate new material to be added to existing statude.
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Amendments

1 amendment

Click Show changes on an amendment above to see how it modifies the bill.

Action History

  1. Governor Signed

  2. Signed by the President of the Senate

  3. Sent to the Governor

  4. Signed by the Speaker of the House

  5. Senate Third Reading Passed - No Amendments

  6. Senate Committee on Appropriations Refer Unamended - Consent Calendar to Senate Committee of the Whole

  7. Senate Second Reading Special Order - Passed - No Amendments

  8. Senate Committee on Finance Refer Unamended to Appropriations

  9. House Third Reading Passed - No Amendments

  10. Introduced In Senate - Assigned to Finance

  11. House Second Reading Special Order - Passed with Amendments - Committee, Floor

  12. House Committee on Appropriations Refer Amended to House Committee of the Whole

  13. House Second Reading Special Order - Laid Over Daily - No Amendments

  14. House Committee on Finance Refer Amended to Appropriations

  15. House Committee on Public & Behavioral Health & Human Services Refer Amended to Finance

  16. Introduced In House - Assigned to Public & Behavioral Health & Human Services

Sponsors

  • Rob Woodward · Primary
  • Rachel Zenzinger · Primary
  • Colin Larson · Primary
  • Cathy Kipp · Primary

Sponsorship breakdown

Export CSV (upgrade) →

4 sponsors · 0 co-sponsors · 98 not signed on

Sponsors (4)

  • Rob Woodward
  • Rachel Zenzinger
  • Colin Larson
  • Cathy Kipp Democrat

Co-sponsors (0)

None.

Not signed on (98)

98 members have not signed on to this bill.

Show all 98 →

"Not signed on" means a member has not sponsored or co-sponsored this bill — it does not imply opposition. Members flagged Voted No have a recorded No vote on this bill.

Whip count is in markup. Polling the chamber and every recorded vote this session. Only the first open is slow. It’s instant for you after this. Calling the roll · Tallying · Engrossing

Votes

BILL

Passed 34 Yea · 0 Nay · 1 Other
Party YeaNayPresentNot Voting
Democrat 8000
Unaffiliated 22001
Republican 4000
Total 34001
% of votes cast 97%0%0%3%
How each member voted (35)
Member Party Vote
Buckner — Yea
Cooke — Yea
Coram — Yea
Donovan — Yea
Fields — Yea
Gardner — Not Voting
Ginal — Yea
Hansen — Yea
Hisey — Yea
Holbert — Yea
Lee — Yea
Lundeen — Yea
Moreno — Yea
Pettersen — Yea
Priola — Yea
Rankin — Yea
Scott — Yea
Smallwood — Yea
Sonnenberg — Yea
Woodward — Yea
Zenzinger — Yea
Fenberg — Yea
Jaquez Lewis — Yea
Chris Kolker Democrat Yea
James Coleman Democrat Yea
Jeff Bridges Democrat Yea
Jessie Danielson Democrat Yea
Julie Gonzales Democrat Yea
Nick Hinrichsen Democrat Yea
Robert Rodriguez Democrat Yea
Tammy Story Democrat Yea
Barbara Kirkmeyer Republican Yea
Cleave Simpson Republican Yea
Larry Liston Republican Yea
Ty Winter Republican Yea

Official roll call →

BILL

Passed 63 Yea · 0 Nay · 2 Other
Party YeaNayPresentNot Voting
Democrat 22001
Republican 8000
Unaffiliated 33001
Total 63002
% of votes cast 97%0%0%3%
How each member voted (65)
Member Party Vote
Bernett — Yea
Bird — Yea
Bockenfeld — Yea
Caraveo — Yea
Carver — Yea
Esgar — Yea
Geitner — Yea
Gonzales-Gutierrez — Yea
Gray — Not Voting
Hanks — Yea
Herod — Yea
Holtorf — Yea
Hooton — Yea
Larson — Yea
Lontine — Yea
Lynch — Yea
McKean — Yea
McLachlan — Yea
Neville — Yea
Ortiz — Yea
Pico — Yea
Ransom — Yea
Sandridge — Yea
Tipper — Yea
Will — Yea
Young — Yea
Garnett — Yea
Adrienne Benavidez — Yea
Michaelson Jenet — Yea
Valdez D. — Yea
Van Beber — Yea
Van Winkle — Yea
Williams D. — Yea
deGruy Kennedy — Yea
Alex Valdez Democrat Yea
Andrew Boesenecker Democrat Yea
Brianna Titone Democrat Yea
Cathy Kipp Democrat Yea
Dylan Roberts Democrat Yea
Emily Sirota Democrat Not Voting
Iman Jodeh Democrat Yea
Jennifer Bacon Democrat Yea
Judy Amabile Democrat Yea
Julie McCluskie Democrat Yea
Karen McCormick Democrat Yea
Kyle Mullica Democrat Yea
Lindsey Daugherty Democrat Yea
Lisa Cutter Democrat Yea
Mandy Lindsay Democrat Yea
Marc Snyder Democrat Yea
Meg Froelich Democrat Yea
Mike Weissman Democrat Yea
Monica Duran Democrat Yea
Naquetta Ricks Democrat Yea
Steven Woodrow Democrat Yea
Tom Sullivan Democrat Yea
Tony Exum Democrat Yea
Dan Woog Republican Yea
Janice Rich Republican Yea
Marc Catlin Republican Yea
Mark Baisley Republican Yea
Mary Bradfield Republican Yea
Matt Soper Republican Yea
Rod Pelton Republican Yea
Stephanie Luck Republican Yea

Official roll call →

Subjects

finance healthcare labor education
Cross-referencing the record. Reading this bill against every other bill in the corpus by meaning, not keywords. Only the first open is slow. It’s instant for you after this. Matching · Ranking · Engrossing

Frequently asked questions

What does HB 22-1320 do?
The collegeinvest authority administers the achieving a better life experience (ABLE) savings program. Individuals who were declared disabled, as defined under federal law, before reaching 26 years of age are eligible to open an ABLE savings account. ABLE savings accounts under section 529A of the internal revenue code are modeled after section 529 college savings accounts, but, unlike those accounts, ABLE savings accounts may be used to save for many expenses related to an individual's disability without disqualifying the individual for certain federal benefits. The act modifies the administration and operation of these accounts in 2 ways. First, the act allows a person other than the individual with a disability to open an ABLE savings account for the individual and to have signature authority over that account. Second, the act prohibits the state from filing a claim against the ABLE savings account upon the account owner's death for outstanding payments due for qualified disability expenses. The act also modifies the tax benefits associated with an ABLE savings account for the 2023, 2024, and 2025 tax years. Under the act, a taxpayer may deduct from their federal taxable income for purposes of calculating their state taxable income certain contributions made to an ABLE savings account. Further, the act ensures that a taxpayer does not encounter tax recapture of any deductions claimed for these contributions when distributions are made from an ABLE savings account for qualified disability expenses. $44,517 is appropriated from the general fund to the department of revenue for the implementation of the act. (Note: This summary applies to this bill as enacted.)
Who sponsors HB 22-1320?
HB 22-1320 is sponsored by Rob Woodward, Rachel Zenzinger, Colin Larson, and Cathy Kipp (Democrat).
What is the current status of HB 22-1320?
This bill has been enacted into law. Introduced March 24, 2022. Enacted.
Where can I track HB 22-1320?
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