Senate Sponsors: OBAMA-SMITH-GARCIA-REA-TROTTER. Short description: DHS-INDVIDUAL DEVELPMNT ACCNTS Synopsis of Bill as introduced: Amends the Illinois Public Aid Code. Provides that the Department of Human Services shall administer a program that allows eligible low-income individuals to maintain Individual Development Accounts with money from employment earnings to enable the individual to accumulate funds for postsecondary education, to purchase a first home, or to finance business capitalization expenses. Provides that the funds in the account shall be matched by a not-for-profit organization or by a State or local governmental agency acting in cooperation with a not-for-profit organization. Provides that the Department may match a set percentage of contributions made by the eligible individuals who have established Individual Development Accounts and make grants to not-for-profit organizations to administer the accounts. Provides that funds in an Individual Development Account shall be disregarded for the purpose of determining the eligibility and benefit levels under this Code. Effective immediately. Last action on Bill: SESSION SINE DIE Last action date: 99-01-12 Location: Senate Amendments to Bill: AMENDMENTS ADOPTED: HOUSE - 0 SENATE - 0 END OF INQUIRY Full Text Bill Status