Bill Title: Amends the State Treasurer Act. Requires the State Treasurer to establish an Achieving a Better Life Experience (ABLE) program, pursuant to Section 529A of the Internal Revenue Code, for the purpose of administering ABLE accounts established to encourage and assist individuals and families in saving private funds for the purpose of supporting individuals with disabilities. Amends the Illinois Income Tax Act. Creates a corresponding deduction for contributions to an ABLE account. Provides for an addition modification in an amount equal to the contribution component of any nonqualified withdrawal or refund from an ABLE account that was previously deducted under the Act.

Spectrum: Partisan Bill (Republican 2-0)

Status: (Introduced - Dead) 2015-03-27 - Rule 19(a) / Re-referred to Rules Committee [HB3370 Detail]

Text: Latest bill text (Introduced) [HTML]

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