THE FOLLOWING RELEASE IS FROM SENATOR FARACI’S OFFICE
ABOVE: Senator Faraci sits with Treasurer Frerichs as Senate Bill 2247 is presented in committee.
SPRINGFIELD – State Senator Paul Faraci advanced a measure through the Senate State Government Committee to rename and expand the ABLE Account Program in honor of the late Senator Scott Bennett.
“Senator Bennett was a tireless advocate for individuals living with disabilities and their families,” said Faraci (D-Champaign). “Renaming the ABLE Account Program in his honor is a fitting tribute to his legacy of service and commitment to improving the lives of those around him.”
The program, created and passed by Senator Scott Bennett during the 99th General Assembly, allows individuals with disabilities and their families to save money for expenses related to living with a disability without losing access to certain federal government assistance. Under Faraci’s legislation, the ABLE Account Program would be renamed to the Senator Scott Bennett ABLE Program.
The ABLE Program is a critical tool for individuals with disabilities and their families, allowing them to save and invest for expenses related to their disability without losing access to federal means-tested benefits such as SSI, SSDI, and Medicaid. With a maximum savings limit of $100,000, individuals can rest assured that they have a secure financial future.
“It is my hope that this bill will help individuals living with disabilities and their families achieve financial stability and security, and honor the life and legacy of Senator Bennett,” said Faraci.
Senate Bill 2247 passed the Senate State Government Committee and awaits action before the full Senate.
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March 8, 2023 at 10:29PM