94TH GENERAL ASSEMBLY
State of Illinois
2005 and 2006
HB4778


 
Introduced 1/18/2006, by Rep. Elizabeth Coulson
 
SYNOPSIS AS INTRODUCED:
 		













15 ILCS 505/20 new










    Amends the State Treasurer Act.  Authorizes the Treasurer to establish a long term care savings pool, to receive moneys for a participant, and serve as fiscal agent.  Effective immediately.
















LRB094 17966 RCE 53269 b

















FISCAL NOTE ACT MAY APPLY
















 


 


A BILL FOR









 











HB4778

LRB094 17966 RCE 53269 b






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    AN ACT concerning finance.

 
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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 State Treasurer Act is amended  by adding 
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Section 20 as follows:
 
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    (15 ILCS 505/20  new)
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    Sec. 20. Long term care savings pool. The State Treasurer 
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may establish and administer a long term care savings pool to 
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supplement and enhance other opportunities to fund long term 
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care needs.  The State Treasurer, in administering the long term 
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care savings pool, may receive moneys paid into the pool for a 
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participant and may serve as the fiscal agent of that 
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participant for the purpose of holding and investing those 
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moneys.
 

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    Section 99. Effective date. This Act takes effect upon 
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becoming law.