Text: SSB01178                          Text: SSB01180
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Bills and Amendments: General Index     Bill History: General Index

Senate Study Bill 1179

Bill Text

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 and
  1  8 any other assets that must be held in trust for the exclusive
  1  9 benefit of participants in the dependent care flexible
  1 10 spending account program.  The moneys and assets of the fund
  1 11 shall be used for the exclusive benefit of participants in the
  1 12 state's dependent care flexible spending account program.
  1 13    2.  The director is the trustee of the fund and shall
  1 14 administer the fund.  Any loss to the fund shall be charged
  1 15 against the fund and the director shall not be personally
  1 16 liable for such loss.  The director shall have the authority
  1 17 to direct expenditures from the fund as deemed appropriate for
  1 18 the exclusive benefit of the participants in the program as
  1 19 authorized by this section.
  1 20    3.  Moneys and assets in the fund may be expended to cover
  1 21 all reasonable and necessary expenses or charges allocable to
  1 22 the program for purposes of administration of the program.
  1 23 Expenditures of moneys from the fund for purposes of plan
  1 24 administration shall be deemed to be for the exclusive benefit
  1 25 of the participants in the program.
  1 26    4.  Moneys in the fund are not subject to section 8.33.
  1 27 Notwithstanding section 12C.7, subsection 2, interest or
  1 28 earnings on moneys in the fund shall be credited to the fund.
  1 29    Sec. 2.  Section 70A.20, subsection 3, paragraph a, Code
  1 30 1999, is amended to read as follows:
  1 31    a.  Minimum and maximum benefits, not less than fifty
  1 32 dollars per month and not exceeding two three thousand dollars
  1 33 per month.
  1 34    Sec. 3.  NEW SECTION.  432.13A  PREMIUM TAX EXEMPTION –
  1 35 STATE EMPLOYEE BENEFIT PROGRAMS.
  2  1    Premiums received for benefits acquired by the department
  2  2 of personnel on behalf of state employees as provided in
  2  3 section 19A.1, subsection 2, are exempt from premium tax.
  2  4    Sec. 4.  EFFECTIVE DATE – RETROACTIVE APPLICABILITY.
  2  5 Section 3 of this Act, creating new section 432.13A, being
  2  6 deemed of immediate importance, takes effect upon enactment
  2  7 and is retroactively applicable to January 1, 1999, and is
  2  8 applicable on and after that date.  
  2  9                           EXPLANATION
  2 10    This bill establishes an Iowa state employee dependent care
  2 11 flexible spending account trust fund for purposes of
  2 12 depositing and expending moneys related to the state's
  2 13 dependent care program.  The bill provides that the director
  2 14 of the department of personnel is responsible for
  2 15 administering the fund.  The bill permits the expenditure of
  2 16 moneys from the fund for purposes of administering the
  2 17 dependent care program.
  2 18    Code section 70A.20 is amended to increase the maximum
  2 19 monthly state employee disability program payment from $2,000
  2 20 to $3,000.
  2 21    New Code section 432.13A is created to provided that
  2 22 premiums received for benefits provided to state employees by
  2 23 the department of personnel are exempt from the premium tax
  2 24 provided in Code chapter 432.  This new Code section is
  2 25 effective immediately and is retroactively applicable to
  2 26 January 1, 1999.  
  2 27 LSB 3084SC 78
  2 28 ec/cf/24
     

Text: SSB01178                          Text: SSB01180
Text: SSB01100 - SSB01199               Text: SSB Index
Bills and Amendments: General Index     Bill History: General Index

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