St Treasurer-able Account Prog

Amends the State Treasurer Act. Provides that for purposes of the ABLE account program, a designated beneficiary means the ABLE account owner. Provides that upon the death of a designated beneficiary, proceeds from an account may be transferred pursuant to a payable on death account agreement. Provides that upon the death of a designated beneficiary, the State Treasurer may require verification that the funeral and burial expenses of the designated beneficiary have been paid. Makes conforming changes. Effective immediately. House Committee Amendment No. 1 Deletes reference to: 15 ILCS 505/16.6 Adds reference to: 20 ILCS 5/5-15 was 20 ILCS 5/3 Replaces everything after the enacting clause.…