ELDER CARE SAVINGS FUND ACT
Summary
Creates the Elder Care Savings Fund Act. Authorizes the State Treasurer to establish an Elder Care Savings Fund. Allows Illinois residents to invest in the fund and provides that investors' earnings are exempt from taxes other than estate, transfer, and inheritance taxes. Provides for a program of grants, using moneys in the fund, to be applied to costs of long-term care or services. Requires the State Treasurer to implement a program to inform residents about options available for financing long-term care. Creates an Elder Care Trust Authority to advise the Elder Care Savings Fund staff and perform other functions. Effective immediately.
Bill status
failed
1 of 4 stages cleared
Introduction
Feb 2003
Committee Review
Floor Vote
Governor
Introduced Feb 5, 2003
Last action Jan 11, 2005
Floor votes
How they voted
No floor votes recorded yet.
Full legislative history
Actions timeline
Total actions
28
Key actions
0
Committee
3
Jan 11, 2005
House · Failed
Session Sine Die
Mar 13, 2003
House · Referred to committee
Rule 19(a) / Re-referred to Rules Committee
Jan 23, 2003
House · Referred to committee
Assigned to Revenue Committee
Jan 8, 2003
House · Referred to committee
Referred to Rules Committee
0 primary · 1 co-sponsor
Sponsors
Role
Legislator
Party
State
District
Co
Lou Lang
DDemocratic
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