IL HR0936

Declares December 19, 2024 as Illinois ABLE Day in recognition of the tenth anniversary of the Stephen Beck Jr., Achieving a Better Life Experience Act of 2014 (Public Law No. 113-295)

Recognizes the Illinois Achieving a Better Life Experience (IL ABLE) program as an important tool for Illinoisans with disabilities, allowing tax-deferred growth and tax-free withdrawals for qualified disability expenses including education, transportation, assistive technology, and health services

Notes that since launching in January 2017, the IL ABLE program has opened more than 6,500 accounts with over $90 million in contributions and paid approximately $40 million in qualified disability expenses

Acknowledges a 19-member bipartisan consortium of states now led by State Treasurer Michael Frerichs to provide ABLE programs for more than a quarter of ABLE-eligible people with disabilities nationwide, including Alaska, Arkansas, Connecticut, Delaware, Indiana, Iowa, Kansas, Michigan, Minnesota, Montana, Mississippi, Nevada, New Hampshire, New Jersey, North Carolina, Pennsylvania, Rhode Island, and the District of Columbia

Highlights that the average IL ABLE account balance of approximately $11,800 demonstrates improved economic independence and financial freedom for account owners with disabilities