IL HB1432

Establishes a $50 matching contribution from the State Treasurer for ABLE (Achieving a Better Life Experience) accounts opened on or after January 1, 2026 for Illinois residents with disabilities, with the amount subject to increase by rule

Creates the Illinois ABLE Matching Contribution Fund as a special fund in the State treasury to hold appropriated funds, gifts, grants, and interest for the matching contribution program

Limits matching contributions to one per beneficiary, with the contribution becoming the property of the beneficiary and treated the same as other account contributions

Removes the word "private" from statutory language describing funds saved in ABLE accounts, broadening the program's scope beyond private savings

Authorizes the State Treasurer to reduce or forgo matching contributions if appropriated funds are insufficient