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HB1432 - 104th General Assembly
ABLE ACCOUNT CONTRIBUTIONS
House Sponsors
Rep. Suzanne M. Ness - Diane Blair-Sherlock - Michael Crawford - Wayne A. Rosenthal, Laura Faver Dias, Lisa Davis, Nicolle Grasse, Rick Ryan, Janet Yang Rohr, Emanuel "Chris" Welch, Maura Hirschauer, Maurice A. West, II, Amy Briel, Matt Hanson, Jawaharial Williams, Kimberly Du Buclet, Marcus C. Evans, Jr., Jehan Gordon-Booth and Debbie Meyers-Martin
Senate Sponsors
(Sen. Laura Fine and Javier L. Cervantes)
Statutes Amended In Order of Appearance
30 ILCS 105/5.1030 new
Synopsis As Introduced
Amends the State Treasurer Act. Provides that, subject to appropriation, the State Treasurer may make a matching contribution of $50 to an ABLE account opened on or after January 1, 2026 for a beneficiary who is a resident of Illinois. Provides that the matching contribution shall be limited to one contribution per beneficiary and shall not be treated differently from any other contributions to the account. Provides that if there are insufficient funds available, the State Treasurer may reduce the matching contribution amount or forgo contributions. Provides that the Illinois ABLE Matching Contribution Fund shall be the official repository of all contributions, appropriated funds, interest, and dividend payments, gifts, or other financial assets received by the State Treasurer in connection with matching contributions to ABLE accounts. Amends the State Finance Act. Creates the Illinois ABLE Matching Contribution Fund.
Actions
| Date | Chamber | Action |
|---|---|---|
| 1/17/2025 | House | Filed with the Clerk by Rep. Suzanne M. Ness |
| 1/28/2025 | House | First Reading |
| 1/28/2025 | House | Referred to Rules Committee |
| 2/18/2025 | House | Assigned to State Government Administration Committee |
| 2/26/2025 | House | Do Pass / Short Debate State Government Administration Committee; 009-000-000 |
| 2/26/2025 | House | Added Chief Co-Sponsor Rep. Diane Blair-Sherlock |
| 2/26/2025 | House | Added Chief Co-Sponsor Rep. Michael Crawford |
| 2/26/2025 | House | Added Co-Sponsor Rep. Laura Faver Dias |
| 2/26/2025 | House | Added Co-Sponsor Rep. Lisa Davis |
| 2/26/2025 | House | Added Co-Sponsor Rep. Nicolle Grasse |
| 2/26/2025 | House | Added Co-Sponsor Rep. Rick Ryan |
| 2/26/2025 | House | Added Co-Sponsor Rep. Wayne A. Rosenthal |
| 2/26/2025 | House | Removed Co-Sponsor Rep. Wayne A. Rosenthal |
| 2/27/2025 | House | Added Chief Co-Sponsor Rep. Wayne A. Rosenthal |
| 2/27/2025 | House | Placed on Calendar 2nd Reading - Short Debate |
| 3/06/2025 | House | Added Co-Sponsor Rep. Janet Yang Rohr |
| 3/18/2025 | House | Second Reading - Short Debate |
| 3/18/2025 | House | Placed on Calendar Order of 3rd Reading - Short Debate |
| 3/18/2025 | House | Added Co-Sponsor Rep. Emanuel "Chris" Welch |
| 4/07/2025 | House | Third Reading - Short Debate - Passed 102-000-001 |
| 4/07/2025 | House | Added Co-Sponsor Rep. Maura Hirschauer |
| 4/07/2025 | House | Added Co-Sponsor Rep. Maurice A. West, II |
| 4/07/2025 | House | Added Co-Sponsor Rep. Amy Briel |
| 4/07/2025 | House | Added Co-Sponsor Rep. Matt Hanson |
| 4/07/2025 | House | Added Co-Sponsor Rep. Jawaharial Williams |
| 4/07/2025 | House | Added Co-Sponsor Rep. Kimberly Du Buclet |
| 4/07/2025 | House | Added Co-Sponsor Rep. Marcus C. Evans, Jr. |
| 4/07/2025 | House | Added Co-Sponsor Rep. Jehan Gordon-Booth |
| 4/07/2025 | House | Added Co-Sponsor Rep. Debbie Meyers-Martin |
| 4/08/2025 | Senate | Arrive in Senate |
| 4/08/2025 | Senate | Placed on Calendar Order of First Reading |
| 4/08/2025 | Senate | Chief Senate Sponsor Sen. Laura Fine |
| 4/08/2025 | Senate | First Reading |
| 4/08/2025 | Senate | Referred to Assignments |
| 4/23/2025 | Senate | Assigned to Appropriations |
| 4/30/2025 | Senate | Added as Alternate Co-Sponsor Sen. Javier L. Cervantes |
| 5/09/2025 | Senate | Rule 2-10 Committee Deadline Established As May 23, 2025 |
| 5/23/2025 | Senate | Rule 2-10 Committee Deadline Established As June 1, 2025 |
| 6/02/2025 | Senate | Rule 3-9(a) / Re-referred to Assignments |