Text: HSB00246 Text: HSB00248 Text: HSB00200 - HSB00299 Text: HSB Index Bills and Amendments: General Index Bill History: General Index
PAG LIN 1 1 Section 1. NEW SECTION. 19A.12D IOWA STATE EMPLOYEE 1 2 DEPENDENT CARE FLEXIBLE SPENDING ACCOUNT TRUST FUND. 1 3 1. A special fund, separate and apart from all other 1 4 public moneys or funds of this state, to be known as the "Iowa 1 5 State Employee Dependent Care Flexible Spending Account Trust 1 6 Fund", is created in the office of the treasurer of state. 1 7 The fund shall consist of all moneys deposited in the fund 1 8 pursuant to this section and any other assets that must be 1 9 held in trust for the exclusive benefit of participants in the 1 10 dependent care flexible spending account program. The moneys 1 11 and assets of the fund shall be used for the exclusive benefit 1 12 of participants in the state's dependent care flexible 1 13 spending account program. 1 14 2. The director is the trustee of the fund and shall 1 15 administer the fund. Any loss to the fund shall be charged 1 16 against the fund and the director shall not be personally 1 17 liable for such loss. The director shall have the authority 1 18 to direct expenditures from the fund as deemed appropriate for 1 19 the exclusive benefit of the participants in the program as 1 20 authorized by this section. 1 21 3. There is appropriated from the general fund of the 1 22 state to the fund an amount determined by the department of 1 23 revenue and finance which represents the savings in 1 24 contributions that would otherwise be required to be made by 1 25 employers of participants in the program pursuant to the 1 26 Federal Insurance Contributions Act resulting from 1 27 participation by employees in the program. 1 28 4. Moneys and assets in the fund may be expended to cover 1 29 all reasonable and necessary expenses or charges allocable to 1 30 the program for purposes of administration of the program. 1 31 Expenditures of moneys from the fund for purposes of plan 1 32 administration shall be deemed to be for the exclusive benefit 1 33 of the participants in the program. 1 34 5. Moneys in the fund are not subject to section 8.33. 1 35 Notwithstanding section 12C.7, subsection 2, interest or 2 1 earnings on moneys in the fund shall be credited to the fund. 2 2 Sec. 2. Section 70A.20, subsection 3, paragraph a, Code 2 3 1999, is amended to read as follows: 2 4 a. Minimum and maximum benefits, not less than fifty 2 5 dollars per month and not exceedingtwofive thousand dollars 2 6 per month. 2 7 Sec. 3. NEW SECTION. 432.13A PREMIUM TAX EXEMPTION – 2 8 STATE EMPLOYEE BENEFIT PROGRAMS. 2 9 Premiums received for benefits acquired by the department 2 10 of personnel on behalf of state employees as provided in 2 11 section 19A.1, subsection 2, are exempt from premium tax. 2 12 Sec. 4. EFFECTIVE DATE – RETROACTIVE APPLICABILITY. 2 13 Section 3 of this Act, creating new section 432.13A, being 2 14 deemed of immediate importance, takes effect upon enactment 2 15 and is retroactively applicable to January 1, 1999, and is 2 16 applicable on and after that date. 2 17 EXPLANATION 2 18 This bill establishes an Iowa state employee dependent care 2 19 flexible spending account trust fund for purposes of 2 20 depositing and expending moneys related to the state's 2 21 dependent care program. The bill provides that the director 2 22 of the department of personnel is responsible for 2 23 administering the fund. The bill establishes an appropriation 2 24 to the fund from the general fund of the state which 2 25 represents the amount state employers save in reduced federal 2 26 social security payments due to employee participation in the 2 27 program. The bill permits the expenditure of moneys from the 2 28 fund for purposes of administering the dependent care program. 2 29 Code section 70A.20 is amended to increase the maximum 2 30 monthly state employee disability program payment from $2,000 2 31 to $5,000. 2 32 New Code section 432.13A is created to provided that 2 33 premiums received for benefits provided to state employees by 2 34 the department of personnel are exempt from the premium tax 2 35 provided in Code chapter 432. This new Code section is 3 1 effective immediately and is retroactively applicable to 3 2 January 1, 1999. 3 3 LSB 1306DP 78 3 4 ec/cf/24.1
Text: HSB00246 Text: HSB00248 Text: HSB00200 - HSB00299 Text: HSB Index Bills and Amendments: General Index Bill History: General Index
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