Section 722.350  ABLE Administrative Fund

The Illinois ABLE Accounts Administrative Fund is created as a non-appropriated trust fund in the State treasury.  The State Treasurer shall use moneys in the Administrative Fund to cover administrative expenses incurred, as provided for in Section 530. The Administrative Fund may receive any grants or other moneys designated for administrative purposes from the State, or any unit of federal, state, or local government, or any other person, firm, partnership, or corporation. Any interest earnings that are attributable to moneys in the Administrative Fund must be deposited into the Administrative Fund. Any fees established by the State Treasurer to cover the costs of administration, recordkeeping, and investment management shall be deposited into the Administrative Fund.  [15 ILCS 505/16.6(g)]

(Source:  Amended at 45 Ill. Reg. 4133, effective March 12, 2021)