Date	Chamber	Action
1/11/2005	Senate	Session Sine Die

Statutes Amended In Order of Appearance

New Act

35 ILCS 5/203

from Ch. 120, par. 2-203

Synopsis As Introduced
Creates the Elder Care Savings Fund Act and amends the Illinois Income Tax Act. Authorizes the State Treasurer to establish an Elder Care Savings Fund, in which individuals may invest. Provides that income on investments in the fund are exempt from all State and local taxation, except for estate, transfer, and inheritance taxes. Directs the Governor and the Director of the Bureau of the Budget to provide for a grant program of additional financial incentives to encourage persons' use of their investments in the fund for various types of long-term care. Requires the Treasurer, in cooperation with the Department on Aging and area agencies on aging, to develop a public education program concerning the financing of long-term health care. Creates the Elder Care Trust Authority to advise the Elder Care Savings Fund staff and to assess the program's effectiveness. Effective immediately.

Actions 

Date	Chamber	Action
2/19/2003	Senate	Filed with Secretary by Sen. Susan Garrett
2/19/2003	Senate	First Reading
2/19/2003	Senate	Referred to Rules
2/26/2003	Senate	Assigned to Financial Institutions
3/6/2003	Senate	Postponed - Financial Institutions
3/12/2003	Senate	Senate Committee Amendment No. 1 Filed with Secretary by Sen. Susan Garrett
3/12/2003	Senate	Senate Committee Amendment No. 1 Referred to Rules
3/13/2003	Senate	Postponed - Financial Institutions
3/14/2003	Senate	Rule 3-9(a) / Re-referred to Rules
1/11/2005	Senate	Session Sine Die

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