News item provided by Senator Faraci
Under a proposal led by State Senator Paul Faraci, savings accounts for people living with disabilities, known as the Senator Scott Bennett ABLE Program, will be expanded.
"This crucial measure seeks to enhance the ABLE program, empowering individuals living with disabilities and their families with greater financial independence, while safeguarding essential benefits,” said Faraci (D-Champaign). “These changes reflect our commitment to inclusivity and support for those who need it most.”
House Bill 3641 makes expansive changes to the Senator Scott Bennett ABLE Program, which helps people living 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 would allow people over the age of 18 to start an IL ABLE account and enable the accounts to conserve additional benefits, such as VA benefits.
“It's our duty to empower those living with disabilities and their families to navigate life's challenges with dignity and autonomy,” said Faraci.
Faraci serves as a chief co-sponsor of House Bill 3641.
It passed the Illinois Senate with bipartisan support and awaits further action in the House. To read more about the Senator Scott Bennett ABLE Program, including benefits and eligibility, click here.
