Bill Status of HB0024  94th General Assembly


Short Description:  HEALTH SAVINGS ACCOUNTS

House Sponsors
Rep. Patricia R. Bellock - Sidney H. Mathias - John A. Fritchey - Sandra M. Pihos - Eileen Lyons, Patricia Reid Lindner, Jack D. Franks, Linda Chapa LaVia and Robert F. Flider

Last Action
DateChamber Action
  1/9/2007HouseSession Sine Die

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


Synopsis As Introduced
Creates the Health Savings Account Act and amends the Illinois Income Tax Act. Provides that, beginning in taxable year 2005, a resident of Illinois or an employer may deposit contributions, subject to certain limitations, into a health savings account. Provides that the principal contributed to and the interest earned on a health savings account and money reimbursed to an eligible individual or an employee for qualified medical expenses is exempt from the Illinois income tax. Sets forth restriction on the use of funds held in a health savings account. Provides that an eligible individual may withdraw money from his or her health savings account for any purpose, but provides that certain withdrawals are not tax exempt. Repeals the Health Savings Account Act on June 30, 2015. Effective July 1, 2005.

Actions 
DateChamber Action
  12/3/2004HousePrefiled with Clerk by Rep. Patricia R. Bellock
  1/12/2005HouseFirst Reading
  1/12/2005HouseReferred to Rules Committee
  1/13/2005HouseAdded Chief Co-Sponsor Rep. Sidney H. Mathias
  1/26/2005HouseAssigned to Revenue Committee
  2/1/2005HouseAdded Chief Co-Sponsor Rep. John A. Fritchey
  2/1/2005HouseAdded Chief Co-Sponsor Rep. Sandra M. Pihos
  2/1/2005HouseAdded Chief Co-Sponsor Rep. Eileen Lyons
  2/1/2005HouseAdded Co-Sponsor Rep. Patricia Reid Lindner
  2/10/2005HouseAdded Co-Sponsor Rep. Jack D. Franks
  2/10/2005HouseAdded Co-Sponsor Rep. Linda Chapa LaVia
  2/18/2005HouseRecommends Be Adopted Sub-committee/ Revenue Committee; 001-000-002; Lost
  2/18/2005HouseRemains in Revenue Committee
  3/1/2005HouseAdded Co-Sponsor Rep. Robert F. Flider
  3/10/2005HouseRule 19(a) / Re-referred to Rules Committee
  1/9/2007HouseSession Sine Die