Bill Status of HB 1432   104th General Assembly

Short Description:  ABLE ACCOUNT CONTRIBUTIONS

House Sponsors
Rep. Suzanne M. Ness-Diane Blair-Sherlock-Michael Crawford-Wayne A. Rosenthal, Laura Faver Dias, Lisa Davis, Nicolle Grasse, Rick Ryan, Janet Yang Rohr, Emanuel "Chris" Welch, Maura Hirschauer, Maurice A. West, II, Amy Briel, Matt Hanson, Jawaharial Williams, Kimberly Du Buclet, Marcus C. Evans, Jr., Jehan Gordon-Booth and Debbie Meyers-Martin

Senate Sponsors
(Sen. Laura Fine and Javier L. Cervantes)


Last Action  View All Actions

DateChamber Action
  6/2/2025SenateRule 3-9(a) / Re-referred to Assignments

Statutes Amended In Order of Appearance
15 ILCS 505/16.6
30 ILCS 105/5.1030 new

Synopsis As Introduced
Amends the State Treasurer Act. Provides that, subject to appropriation, the State Treasurer may make a matching contribution of $50 to an ABLE account opened on or after January 1, 2026 for a beneficiary who is a resident of Illinois. Provides that the matching contribution shall be limited to one contribution per beneficiary and shall not be treated differently from any other contributions to the account. Provides that if there are insufficient funds available, the State Treasurer may reduce the matching contribution amount or forgo contributions. Provides that the Illinois ABLE Matching Contribution Fund shall be the official repository of all contributions, appropriated funds, interest, and dividend payments, gifts, or other financial assets received by the State Treasurer in connection with matching contributions to ABLE accounts. Amends the State Finance Act. Creates the Illinois ABLE Matching Contribution Fund.

Actions 
DateChamber Action
  1/17/2025HouseFiled with the Clerk by Rep. Suzanne M. Ness
  1/28/2025HouseFirst Reading
  1/28/2025HouseReferred to Rules Committee
  2/18/2025HouseAssigned to State Government Administration Committee
  2/26/2025HouseDo Pass / Short Debate State Government Administration Committee; 009-000-000
  2/26/2025HouseAdded Chief Co-Sponsor Rep. Diane Blair-Sherlock
  2/26/2025HouseAdded Chief Co-Sponsor Rep. Michael Crawford
  2/26/2025HouseAdded Co-Sponsor Rep. Laura Faver Dias
  2/26/2025HouseAdded Co-Sponsor Rep. Lisa Davis
  2/26/2025HouseAdded Co-Sponsor Rep. Nicolle Grasse
  2/26/2025HouseAdded Co-Sponsor Rep. Rick Ryan
  2/26/2025HouseAdded Co-Sponsor Rep. Wayne A. Rosenthal
  2/26/2025HouseRemoved Co-Sponsor Rep. Wayne A. Rosenthal
  2/27/2025HouseAdded Chief Co-Sponsor Rep. Wayne A. Rosenthal
  2/27/2025HousePlaced on Calendar 2nd Reading - Short Debate
  3/6/2025HouseAdded Co-Sponsor Rep. Janet Yang Rohr
  3/18/2025HouseSecond Reading - Short Debate
  3/18/2025HousePlaced on Calendar Order of 3rd Reading - Short Debate
  3/18/2025HouseAdded Co-Sponsor Rep. Emanuel "Chris" Welch
  4/7/2025HouseThird Reading - Short Debate - Passed 102-000-001
  4/7/2025HouseAdded Co-Sponsor Rep. Maura Hirschauer
  4/7/2025HouseAdded Co-Sponsor Rep. Maurice A. West, II
  4/7/2025HouseAdded Co-Sponsor Rep. Amy Briel
  4/7/2025HouseAdded Co-Sponsor Rep. Matt Hanson
  4/7/2025HouseAdded Co-Sponsor Rep. Jawaharial Williams
  4/7/2025HouseAdded Co-Sponsor Rep. Kimberly Du Buclet
  4/7/2025HouseAdded Co-Sponsor Rep. Marcus C. Evans, Jr.
  4/7/2025HouseAdded Co-Sponsor Rep. Jehan Gordon-Booth
  4/7/2025HouseAdded Co-Sponsor Rep. Debbie Meyers-Martin
  4/8/2025SenateArrive in Senate
  4/8/2025SenatePlaced on Calendar Order of First Reading
  4/8/2025SenateChief Senate Sponsor Sen. Laura Fine
  4/8/2025SenateFirst Reading
  4/8/2025SenateReferred to Assignments
  4/23/2025SenateAssigned to Appropriations
  4/30/2025SenateAdded as Alternate Co-Sponsor Sen. Javier L. Cervantes
  5/9/2025SenateRule 2-10 Committee Deadline Established As May 23, 2025
  5/23/2025SenateRule 2-10 Committee Deadline Established As June 1, 2025
  6/2/2025SenateRule 3-9(a) / Re-referred to Assignments

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