Illinois HB1432 establishes the ABLE account program to help individuals with disabilities save for qualified expenses.
HB1432 creates the "Achieving a Better Life Experience" or ABLE account program in Illinois, administered by the State Treasurer. The program allows eligible individuals to save for qualified disability expenses in tax-exempt accounts. Contributions can be made by designated beneficiaries or their representatives. The State Treasurer may make a matching contribution of $50 to an ABLE account opened on or after January 1, 2026 for Illinois residents. The program aims to supplement, not replace, other benefits.
Included in complete analysis
- Overview
- Core Provisions
- Implementation
- Impact
- Legal Framework
- Critical Issues
See what it does, who it affects, and the critical issues in plain language. Free, 30 seconds.