Bill Text: IL HB4754 | 2017-2018 | 100th General Assembly | Veto Message
Bill Title: Amends the State Treasurer Act. Provides that unless prohibited by federal law, upon the death of a designated beneficiary, proceeds from an ABLE account may be transferred to the estate of a designated beneficiary, or to an account for another eligible individual specified by the designated beneficiary or the estate of the designated beneficiary. Provides that an agency or instrumentality of the State may not seek payment under specified provisions of the federal Internal Revenue Code from the account or its proceeds for benefits provided to a designated beneficiary. Effective immediately.
Sponsorship: Bipartisan Bill
Status: (Failed) 2018-11-28 - Total Veto Stands - No Positive Action Taken [HB4754 Detail]
Download: Illinois-2017-HB4754-Veto_Message.html
August 3, 2018
To the Honorable Members of
The Illinois House of Representatives,
100th General Assembly:
Today I veto House Bill 4754 from the 100th General Assembly, which allows the balance of an ABLE account to be transferred to a designated beneficiary upon the death of an account holder.
I fully support this legislation, and have already signed a duplicate bill, Senate Bill 2660.
Therefore, pursuant to Section 9(b) of Article IV of the Illinois Constitution of 1970, I hereby return House Bill 4754, entitled �AN ACT concerning State government,� with the foregoing objections, vetoed in its entirety.
Sincerely,
Bruce Rauner
GOVERNOR
