IL SB2268

Creates and authorizes the State Treasurer to administer an "Achieving a Better Life Experience" (ABLE) account program allowing eligible individuals with disabilities to save funds for qualified disability expenses.

Permits ABLE accounts to be established for residents of Illinois, contracting states, or any other state (expanded from original limitation to Illinois and contracting states only).

Establishes the Illinois ABLE Accounts Administrative Fund as a nonappropriated trust fund to cover administrative costs, with fees imposed on participants kept as low as possible.

Requires accounts to comply with Internal Revenue Code Section 529A requirements, including annual contribution limits, separate accounting per beneficiary, and proportional withdrawal of contributions and earnings for qualified expenses.

Exempts ABLE account assets and earnings from state taxation to the extent exempt from federal taxation, and requires the accounts be disregarded when determining eligibility for public assistance benefits.