This bill amends the Montana Achieving a Better Life Experience (ABLE) Act by aligning the definition of the "Internal Revenue Code" used in the ABLE Act with that in the Montana Individual Income Tax Code. Specifically, it revises Section 53-25-103 of the Montana Code Annotated to ensure consistency in terminology and definitions related to the ABLE program. The bill includes various definitions relevant to the program, such as "account," "designated beneficiary," and "qualified disability expenses," among others, to clarify the framework under which the program operates.

The bill is designed to take effect immediately upon passage and approval, with a retroactive applicability date for income tax years beginning after December 31, 2024. This means that the changes will not only apply moving forward but will also affect past tax years, ensuring that individuals and families can benefit from the updated definitions in their tax filings.

Statutes affected:
LC Text: 53-25-103
HB0671_1(1): 53-25-103
HB0671_1(2): 53-25-103
HB0671_1(3): 53-25-103
HB0671_1(4): 53-25-103
HB0671_1(5): 53-25-103
HB0671_1(6): 53-25-103
HB0671_1: 53-25-103
HB0671_X(1): 53-25-103
HB0671_X(2): 53-25-103
HB0671_X(3): 53-25-103
HB0671_X(4): 53-25-103
HB0671_X(5): 53-25-103
HB0671_X(6): 53-25-103
HB0671_X(7): 53-25-103
HB0671_X(8): 53-25-103
HB0671_X: 53-25-103