Thanks for the help. I ended up not saving it as a global variable only because I couldn't figure out a way to get the properties of the ball to save to a global variable.
Instead I added an instance variable to the ball called Pushed to prevent the bullet from hitting the ball more than once and moving to fast.
Once the ball comes in contact with one square it is destroyed and the opposite square will respawn a new ball and reapply the torque/velocity. This is the reason that I added instance variable, and limit the speed, because the spawning torque/velocity are set by hand and I wanted the speed of the ball going in the portal to match the speed coming out, or at least look close.
Thanks again for the help and here is the updated CAPX incase anyone is interested!
Updated Game File