SB1383 | Illinois 2015-2016 | ABLE ACCOUNT PROGRAM

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On July 27, 2015 in the Senate:

Public Act . . . . . . . . . 99-0145
Governor Approved
Effective Date January 1, 2016

On June 29, 2015 in the Senate:

Sent to the Governor

On May 31, 2015 in the Senate:

Passed Both Houses
Senate Concurs 058-000-000
House Committee Amendment No. 1 Senate Concurs 058-000-000

On May 28, 2015 in the Senate:

House Committee Amendment No. 1 Motion to Concur Be Approved for Consideration Assignments

On May 27, 2015 in the Senate:

House Committee Amendment No. 1 Motion to Concur Referred to Assignments
House Committee Amendment No. 1 Motion to Concur Filed with Secretary Sen. Scott M. Bennett

On May 21, 2015 in the House:

Third Reading - Short Debate - Passed 117-000-000

On May 21, 2015 in the Senate:

Placed on Calendar Order of Concurrence House Amendment(s) 1 - May 22, 2015
Secretary's Desk - Concurrence House Amendment(s) 1

On May 18, 2015 in the House:

Placed on Calendar Order of 3rd Reading - Short Debate
Second Reading - Short Debate

On May 13, 2015 in the House:

Placed on Calendar 2nd Reading - Short Debate
Do Pass as Amended / Short Debate Human Services Committee; 014-000-000
House Committee Amendment No. 1 Adopted in Human Services Committee; by Voice Vote

On May 11, 2015 in the House:

House Committee Amendment No. 1 Rules Refers to Human Services Committee

On May 8, 2015 in the House:

Committee Deadline Extended-Rule 9(b) May 15, 2015

On May 4, 2015 in the House:

Assigned to Human Services Committee
House Committee Amendment No. 1 Filed with Clerk by Rep. Kelly M. Burke
House Committee Amendment No. 1 Referred to Rules Committee

On April 24, 2015 in the House:

Referred to Rules Committee
First Reading
Arrived in House

On April 23, 2015 in the Senate:

Third Reading - Passed; 057-000-000
Placed on Calendar Order of 3rd Reading
Senate Floor Amendment No. 1 Adopted; Bennett
Recalled to Second Reading
Senate Floor Amendment No. 1 Recommend Do Adopt State Government and Veterans Affairs; 005-000-000

On April 21, 2015 in the Senate:

Second Reading
Placed on Calendar Order of 3rd Reading April 22, 2015
Senate Floor Amendment No. 1 Assignments Refers to State Government and Veterans Affairs

On April 17, 2015 in the Senate:

Senate Floor Amendment No. 1 Referred to Assignments
Senate Floor Amendment No. 1 Filed with Secretary by Sen. Scott M. Bennett

On March 26, 2015 in the Senate:

Placed on Calendar Order of 2nd Reading April 14, 2015
Do Pass State Government and Veterans Affairs; 007-000-000

On March 19, 2015 in the Senate:

Postponed - State Government and Veterans Affairs

On February 25, 2015 in the Senate:

Assigned to State Government and Veterans Affairs

On February 20, 2015 in the Senate:

Referred to Assignments
First Reading
Filed with Secretary by Sen. Scott M. Bennett

Replaces everything after the enacting clause with the introduced bill. Makes the following changes: makes changes to defined terms. Adds additional defined terms. Allows the State Treasurer to enter into agreements with other states to either allow Illinois residents to participate in an ABLE account plan operated by another state or to allow residents of other states to participate in the Illinois ABLE plan. Requires the designated beneficiary of an ABLE account to be a resident of Illinois or a resident of a contracting state. Provides that plan assets are not subject to claims by creditors of the State and may not be used as security for a loan. Requires the State Treasurer to promote awareness of the availability and advantages of the ABLE account plan as a way to assist individuals and families in saving private funds for the purpose of supporting individuals with disabilities but prohibits the State Treasurer from promoting or accepting contributions for ABLE accounts until the Internal Revenue Service has issued its final regulations concerning ABLE accounts. Requires the account administrator to annually prepare and adopt a written statement of investment policy that includes a risk management and oversight program. Makes other changes concerning the administration of the ABLE account plan. Creates the Illinois ABLE Accounts Administrative Fund. Amends the State Finance Act. Adds the Illinois ABLE Accounts Administrative Fund.