Bill Title: Amends the State Treasurer Act. In provisions concerning the ABLE account program, provides that a "designated representative" means a person or entity (currently, person only) who is authorized to act on behalf of a "designated beneficiary". Provides that a person or entity seeking to open an ABLE account on behalf of a designated beneficiary must provide certification, subject to penalties of perjury, of the basis for the person's or entity's authority to act as a designated representative and that there is no other person or entity with higher priority to establish the ABLE account. Removes provisions allowing the State Treasurer to recognize specified persons or entities as a designated representative without appointment by a court. Provides that the State Treasurer may require any certifications that he or she deems necessary to implement the ABLE program, including oaths or affirmations made under penalties of perjury. Defines "Internal Revenue Code". Effective immediately.

Spectrum: Partisan Bill (Democrat 3-0)

Status: (Engrossed - Dead) 2022-03-04 - Referred to Assignments [HB4937 Detail]

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Bill Drafts

Revision	Date	Format	Source	View
Engrossed	2022-03-01	HTML/Text	Link	View
Introduced	2022-01-25	HTML/Text	Link	View

Amendments

Amendment	Date	Disposition	Format	Source	View
No bill amendments currently on file for Illinois HB4937

Supplemental Documents

Title	Description	Date	Format	Source	View
No supplemental documents for Illinois HB4937 currently on file.

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