Bill Status of HB 3865   96th General Assembly

Short Description:  AGING-HOMECARE OPTION ACCOUNT

House Sponsors
Rep. Jehan A. Gordon-Mary E. Flowers-Esther Golar

Last Action  View All Actions

DateChamber Action
  1/11/2011HouseSession Sine Die

Statutes Amended In Order of Appearance
New Act
35 ILCS 5/203from Ch. 120, par. 2-203
815 ILCS 5/3from Ch. 121 1/2, par. 137.3

Synopsis As Introduced
Creates the Homecare Option Program for the Elderly Act and amends the Illinois Income Tax Act and the Illinois Securities Law of 1953. Provides that a person may create an individual savings account, in accordance with terms prescribed by the State Treasurer, for the purpose of planning for the cost of services that will allow the person to remain in his or her home or in a noninstitutional setting as he or she ages. Requires the Treasurer to establish the Homecare Trust Fund, to be comprised of individual savings accounts for those qualified home care expenses not covered by a long-term care insurance policy and for those qualified home care expenses that supplement the coverage provided by a long-term care policy or Medicare. Imposes other duties on the Treasurer in connection with administering the Fund. Provides that interest earned on contributions to a savings account created under the Act is exempt from State income tax. Provides that participation in the trust established under the Homecare Option for the Elderly Act, and any offering and solicitation of the trust, are exempt from provisions of the Illinois Securities Law of 1953 concerning registration of securities.

Actions 
DateChamber Action
  2/25/2009HouseFiled with the Clerk by Rep. Jehan A. Gordon
  2/26/2009HouseFirst Reading
  2/26/2009HouseReferred to Rules Committee
  3/3/2009HouseAssigned to Health Care Availability and Accessibility Committee
  3/10/2009HouseDo Pass / Short Debate Health Care Availability and Accessibility Committee; 011-000-001
  3/11/2009HousePlaced on Calendar 2nd Reading - Short Debate
  3/11/2009HouseAdded Chief Co-Sponsor Rep. Mary E. Flowers
  3/11/2009HouseAdded Chief Co-Sponsor Rep. Esther Golar
  4/1/2009HouseSecond Reading - Short Debate
  4/1/2009HouseHeld on Calendar Order of Second Reading - Short Debate
  4/2/2009HousePlaced on Calendar Order of 3rd Reading - Short Debate
  4/3/2009HouseRule 19(a) / Re-referred to Rules Committee
  1/11/2011HouseSession Sine Die

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