Text: HF00043 Text: HF00045 Text: HF00000 - HF00099 Text: HF Index Bills and Amendments: General Index Bill History: General Index
PAG LIN 1 1 Section 1. Section 249H.5, subsection 3, Code 2003, is 1 2 amended to read as follows: 1 3 3.AnyNotwithstanding any provision of this chapter to 1 4 the contrary, beginning January 1, 2003, any funds remaining 1 5after disbursement of moneys under subsection 2 shall be1 6invested with the interest earned to be available in1 7subsequent fiscal years for the purposes provided in1 8subsection 2, paragraph "b", and subsection 2, paragraph "c",1 9subparagraphs (1) and (2)in the senior living trust fund 1 10 shall be invested. Thereafter, moneys in the fund shall not 1 11 be available for appropriation or allocation until such time 1 12 as the principal amount of the fund totals two hundred million 1 13 dollars. Upon reaching a principal amount of two hundred 1 14 million dollars, only interest and other earnings on moneys in 1 15 the fund may be appropriated or allocated and any 1 16 appropriation or allocation shall be only for the purposes of 1 17 subsection 2, paragraph "a", "b", or "c". 1 18 Sec. 2. EFFECTIVE DATE. This Act, being deemed of 1 19 immediate importance, takes effect upon enactment and is 1 20 retroactively applicable to January 1, 2003. 1 21 EXPLANATION 1 22 This bill provides that beginning January 1, 2003, moneys 1 23 remaining in the senior living trust fund are to be invested. 1 24 Thereafter, moneys in the fund are not to be available for 1 25 appropriation or allocation until such time as the principal 1 26 amount of the fund totals $200 million. Upon reaching the 1 27 $200 million mark, only interest and earnings on moneys in the 1 28 fund may be appropriated or allocated and any appropriation or 1 29 allocation is limited to the purposes of conversion of nursing 1 30 facility space and the development of long-term care 1 31 alternatives, long-term care alternatives programs, and 1 32 delivery of long-term care services, administrative expenses, 1 33 and increased delivery of services under the medical 1 34 assistance home and community-based waivers. 1 35 LSB 1427HH 80 2 1 pf/pj/5
Text: HF00043 Text: HF00045 Text: HF00000 - HF00099 Text: HF Index Bills and Amendments: General Index Bill History: General Index
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