Bill Status of HB3117 99th General Assembly
Short Description: ABLE ACCOUNT PROGRAM
Rep. Robert W. Pritchard
| 1/10/2017||House||Session Sine Die|
Statutes Amended In Order of Appearance
|20 ILCS 1305/Art. 15 heading new|
Synopsis As Introduced
Amends the Department of Human Services Act of the Civil Administrative Code of Illinois. Creates the "Achieving a Better Life Experience" or "ABLE" account plan to encourage and assist individuals and families in saving private funds for the purpose of supporting persons with disabilities in endeavors to maintain health, independence, and quality of life. and to provide secure funding for disability-related expenses on behalf of designated beneficiaries with disabilities that will supplement, but not supplant, benefits provided through private insurance, federal and State medical and disability insurance, the beneficiary's employment, and other sources. Provides that the Secretary of Human Services shall be primarily responsible for the plan but shall work with the Illinois State Board of Investment. Sets forth the requirements of the plan. Requires the Secretary to adopt rules to implement the program. Defines required terms. Amends the Illinois Income Tax Act. Allows a deduction to an individual taxpayer for qualified contributions to an ABLE account.