IL SR1285

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

Recognizes the Illinois ABLE program, administered by the State Treasurer's Office, which has opened more than 6,500 accounts with over $90 million in contributions since its launch in January 2017.

Notes the IL ABLE program has funded approximately $40 million in qualified disability expenses for Illinoisans with disabilities, including education, job coaching, transportation, and assistive technology.

Highlights a 19-member bipartisan state consortium led by State Treasurer Michael Frerichs that serves more than a quarter of ABLE-eligible people with disabilities nationwide, with participating states 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.

Acknowledges the average IL ABLE account balance of approximately $11,800 demonstrates greater economic independence and financial freedom for account owners with disabilities by relieving asset restrictions imposed by federal benefit programs.