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PC 497

Para añadir una nueva Sección 1081.07 a la Ley Núm. 1-2011, según enmendada, conocida como “Código de Rentas Internas de Puerto Rico de 2011” con el fin de crear las cuentas de ahorro para personas con discapacidades (“ABLE Accounts”) y para otros fines relacionados.

2025-2028 Session

Bill PC 497 establishes tax-advantaged ABLE savings accounts for Puerto Rican residents with disabilities, allowing savings without losing means-tested government benefits eligibility.

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Bill Summary · PC 497

Legislative bill overview

Bill PC 497 proposes adding Section 1081.07 to Puerto Rico's Internal Revenue Code of 2011 to establish ABLE Accounts (Achieving a Better Life Experience accounts) for persons with disabilities. These accounts would allow individuals with disabilities to save money without losing eligibility for means-tested government benefits. The bill aims to align Puerto Rico's tax code with federal ABLE account provisions already established in the United States.

Why is this important

ABLE accounts provide significant financial independence and dignity for people with disabilities by permitting them to accumulate savings up to $235,000 without disqualifying them from programs like Supplemental Security Income and Medicaid. This addresses a critical gap where disabled individuals previously faced the harsh choice between saving money for their future or maintaining access to essential benefits. The legislation could improve economic security and quality of life for thousands of Puerto Rican residents with disabilities.

Potential points of contention

  • Implementation costs: Establishing the administrative infrastructure to manage and monitor ABLE accounts requires government resources and may create new bureaucratic procedures
  • Federal-local coordination: The bill must align with federal ABLE account rules and IRS requirements, potentially creating compliance complexity and limiting local policy flexibility
  • Benefit eligibility verification: Determining accurate account values to assess means-tested benefit eligibility could be administratively challenging and may result in disputes or errors

Compiled from official sources — confirm details with the bill’s official record.

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