IL SR1283

Declares December 19, 2024 as Illinois ABLE Day in the State of Illinois to commemorate the tenth anniversary of the Stephen Beck Jr., Achieving a Better Life Experience (ABLE) Act of 2014.

Recognizes that ABLE programs allow Illinoisans with disabilities and their families to save for disability-related expenses while maintaining federal benefits, with tax-deferred growth and tax-free withdrawals for qualified expenses.

Notes that the IL ABLE program, administered by the State Treasurer's Office since January 2017, has opened more than 6,500 accounts with over $90 million in contributions and helped pay approximately $40 million in qualified disability expenses.

Highlights that Illinois leads a 19-member bipartisan state consortium providing low-cost ABLE programs to more than a quarter of ABLE-eligible people with disabilities nationwide.

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