Illinois HR 264: IL ABLE SAVINGS DAY

Bill Text

Full Text of HR0264 

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 Illinois General Assembly

 ILGA.GOV 

 HR0264 - 104th General Assembly 

HR0264LRB104 13234 ECR 25416 r

1HOUSE RESOLUTION

2 WHEREAS, Achieving a Better Life Experience (ABLE) 

3programs are important tools for Illinoisans with disabilities 

4and their families to save for the additional expenses that 

5accompany living with a disability; ABLE accounts help to 

6build health, quality of life, and independence for people 

7with disabilities while protecting federal benefits and 

8encouraging employment; and

9 WHEREAS, ABLE programs offer a diverse range of investment 

10options, tax-deferred growth, and withdrawals free of state 

11and federal taxes when those withdrawals are used for a broad 

12range of qualified disability expenses, including education, 

13job coaching, transportation, accessible equipment, health and 

14wellness, and assistive technology; and

15 WHEREAS, In 2016, the Illinois General Assembly passed the 

16enabling legislation for the Senator Scott Bennett Illinois 

17Achieving a Better Life Experience account program (Illinois 

18ABLE) to create a pathway to greater financial independence 

19for Illinoisans with disabilities and their families; and

20 WHEREAS, The State Treasurer's Office serves as the 

21trustee and administrator for the Illinois ABLE program, and 

22currently, more than 7,100 Illinois ABLE accounts have been 

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1opened with more than $101 million contributed since the 

2launch of the program in January 2017; and

3 WHEREAS, The Illinois ABLE program has helped Illinoisans 

4with disabilities and their families pay for approximately $40 

5million in qualified disability expenses to build greater 

6self-sufficiency and to help meet the needs of individuals who 

7live with disabilities in Illinois; and

8 WHEREAS, Under Treasurer Michael W. Frerichs' leadership, 

9a 19-member, bi-partisan consortium of states provides 

10high-quality, low-cost ABLE programs for more than a quarter 

11of ABLE-eligible people with disabilities nationwide; the 

12consortium includes Alaska, Arkansas, Connecticut, Delaware, 

13Illinois, Indiana, Iowa, Kansas, Michigan, Minnesota, Montana, 

14Mississippi, Nevada, New Hampshire, New Jersey, North 

15Carolina, Pennsylvania, Rhode Island, and the District of 

16Columbia; and

17 WHEREAS, Today's average Illinois ABLE account balance of 

18approximately $12,000 is illustrative of the greater economic 

19independence and financial freedom achieved by account owners 

20with disabilities who are no longer trapped in a life of 

21chronic financial insecurity due to asset restrictions imposed 

22by their federal benefits programs; and

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1 WHEREAS, August 14, 2025 is National ABLE Savings Day; 

2therefore, be it

3 RESOLVED, BY THE HOUSE OF REPRESENTATIVES OF THE ONE 

4HUNDRED FOURTH GENERAL ASSEMBLY OF THE STATE OF ILLINOIS, that 

5we declare August 14, 2025 as Illinois ABLE Savings Day; and be 

6it further

7 RESOLVED, That a suitable copy of this resolution be 

8delivered to the Illinois State Treasurer's Office.