SPRINGFIELD – State Senator Bill Cunningham spearheaded legislation that expands access to savings accounts for people living with disabilities, known as the Senator Scott Bennett ABLE Program.
“ABLE accounts provide much-needed protections for people living with disabilities and their families by allowing them to build financial wellness without risking their federal government benefits,” said Cunningham, a Democrat who represents portions of Chicago and the Southwest Suburbs. “We chose to expand this program because it’s proven to work and is a testament to our commitment to those who deserve our support.”
House Bill 3641 makes expansive changes to the Senator Scott Bennett ABLE Program, which helps people with disabilities and their families save and invest for expenses related to living with a disability without jeopardizing their eligibility for certain government benefits. The measure allows people over the age of 18 to start an IL ABLE account and enables the accounts to conserve additional benefits, such as VA benefits.
“As our friends and neighbors with disabilities continue to navigate everything that life throws at them, it’s my hope that this measure can empower them to live with dignity,” said Cunningham.
House Bill 3641 was signed into law Friday. To read more about the Senator Scott Bennett ABLE Program including benefits and eligibility, click here.