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SB2931 Engrossed |
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LRB094 17140 BDD 54434 b |
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| AN ACT concerning State government.
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| Be it enacted by the People of the State of Illinois,
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| represented in the General Assembly:
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| Section 5. The Department of Commerce and Economic |
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| Opportunity Law of the
Civil Administrative Code of Illinois is |
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| amended by adding Section 605-430 as follows:
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| (20 ILCS 605/605-430 new) |
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| Sec. 605-430. Lifelong learning accounts; pilot program. |
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| (a) The Department may establish and maintain a pilot |
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| program to provide for and test the use of lifelong learning |
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| accounts for workers in the State's healthcare sector. For the |
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| purposes of this Section, "lifelong learning account" means an |
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| individual asset account held by a trustee, custodian, or |
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| fiduciary approved by the Department on behalf of a healthcare |
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| employee, the moneys in which may be used only to pay education |
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| expenses incurred by or on behalf of the account owner. |
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| (b) The Department, if administering a program under this |
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| Section: |
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| (1) may serve up to 500 healthcare workers; |
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| (2) must encourage the participation, in the program, |
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| of lower-income and lower-skilled healthcare workers; |
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| (3) must implement the program in diverse geographic |
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| and economic areas and include healthcare workers in urban, |
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| suburban, and rural areas of the State; |
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| (4) must include, in the program, healthcare employers |
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| of different sizes; |
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| (5) must provide matching grants in an amount, not to |
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| exceed $500 annually for each grant, equal to 50% of the |
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| annual aggregate contribution made by an employer and |
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| employee to the employee's lifelong learning account; |
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| (6) must make technical assistance available to |
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| companies and educational and career advising available to |