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Bill

HR 264

IL ABLE SAVINGS DAY

104th Regular Session Introduced by Diane Blair-Sherlock and 2 co-sponsors

Illinois designates an ABLE Savings Day to promote tax-advantaged savings accounts enabling people with disabilities to save money while retaining government benefits.

Added Co-Sponsor Rep. Nicole La Ha
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WeVote Research Nonpartisan
Bill Summary · HR 264

Legislative bill overview

HR 264 designates a specific day in Illinois as "ABLE Savings Day" to raise public awareness about Achieving a Better Life Experience (ABLE) accounts. These are tax-advantaged savings accounts designed for individuals with disabilities and their families to save money without losing government benefits eligibility. The resolution passed unanimously through the State Government Administration Committee and was adopted on May 31, 2025.

Why is this important

ABLE accounts allow people with disabilities to accumulate up to $235,000 in savings while maintaining access to means-tested benefits like Medicaid and SSI, addressing a significant financial barrier many disabled individuals face. Raising awareness about this program can help thousands of Illinois residents with disabilities improve their financial security and independence. Many eligible individuals remain unaware the program exists, making public education campaigns valuable.

Potential points of contention

  • Limited tangible impact: As a symbolic resolution, ABLE Savings Day creates awareness but doesn't fund outreach, education, or account access improvements
  • Resource allocation questions: Critics may question whether a designated day is sufficient action when direct funding for disability financial literacy programs could be more impactful
  • Implementation ambiguity: The resolution doesn't specify how the state will use this day or what outreach activities should accompany it

Compiled from official sources — confirm details with the bill’s official record.

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