(a) and (b) (I) In general Contributions taken into account under this subparagraph shall not be taken into account under subparagraph (A). (II) Limitation reduction Subparagraphs (A) and (B) shall be applied for each taxable year described in clause (i), and each taxable year to which any contribution under this subparagraph is carried over under clause (ii), by reducing (but not below zero) the aggregate contribution limitation allowed for the taxable year under each such subparagraph by the aggregate contributions allowed under this subparagraph for such taxable year. . (b) Effective date The amendment made by this section shall apply to contributions in taxable years beginning after December 31, 2017. 11024. Increased contributions to ABLE accounts (a) Increase in limitation for contributions from compensation of individuals with disabilities (1) In general Section 529A(b)(2)(B) is amended to read as follows: (B) except in the case of contributions under subsection (c)(1)(C), if such contribution to an ABLE account would result in aggregate contributions from all contributors to the ABLE account for the taxable year exceeding the sum of— (i) the amount in effect under section 2503(b) for the calendar year in which the taxable year begins, plus (ii) in the case of any contribution by a designated beneficiary described in paragraph (7) before January 1, 2026, the lesser of— (I) compensation (as defined by section 219(f)(1)) includible in the designated beneficiary's gross income for the preceding taxable year, or (II) an amount equal to the poverty line for a one-person household, as determined for the calendar year preceding the calendar year in which the taxable year begins. . (2) Eligible designated beneficiary Section 529A(b) is amended by adding at the end the following: (7) Special rules related to contribution limit For purposes of paragraph (2)(B)(ii)— (A) Designated beneficiary A designated beneficiary described in this paragraph is an employee (including an employee within the meaning of section