Senate File 2020
SENATE FILE
BY BOLKCOM
Passed Senate, Date Passed House, Date
Vote: Ayes Nays Vote: Ayes Nays
Approved
A BILL FOR
1 An Act relating to the senior living trust fund and providing for
2 appropriation of the moneys in the fund.
3 BE IT ENACTED BY THE GENERAL ASSEMBLY OF THE STATE OF IOWA:
4 TLSB 5593XS 80
5 pf/pj/5
PAG LIN
1 1 Section 1. Section 249H.5, subsection 2, Code 2003, is
1 2 amended by striking the subsection and inserting in lieu
1 3 thereof the following:
1 4 2. Moneys in the trust fund are allocated, subject to
1 5 their appropriation by the general assembly, to the department
1 6 of elder affairs, in an amount necessary, annually, for
1 7 expenses incurred in implementation and administration of the
1 8 long=term care alternatives programs and for delivery of long=
1 9 term care services to seniors with low or moderate incomes.
1 10 Sec. 2. Section 249H.5, subsection 3, Code 2003, is
1 11 amended to read as follows:
1 12 3. a. Any funds remaining after disbursement of moneys
1 13 under subsection 2 shall be invested with the interest earned
1 14 to be available in subsequent fiscal years for the purposes
1 15 provided in subsection 2, paragraph "b", and subsection 2,
1 16 paragraph "c", subparagraphs (1) and (2).
1 17 b. Moneys in the fund shall not be appropriated in an
1 18 amount in excess of the amount appropriated for the purposes
1 19 specified in subsection 2, or for purposes other than those
1 20 specified in subsection 2, until such time as the amount
1 21 deposited in the fund, following disbursement of moneys under
1 22 subsection 2, exceeds two hundred million dollars. At such
1 23 time as this amount exceeds two hundred million dollars,
1 24 moneys in the fund may be appropriated in an amount that does
1 25 not reduce the fund balance below two hundred million dollars
1 26 and only for the purpose of providing additional funding for
1 27 the purposes of subsection 2.
1 28 EXPLANATION
1 29 This bill provides for the use of moneys in the senior
1 30 living trust fund. The bill limits the purposes for which the
1 31 moneys in the fund may be appropriated to the implementation
1 32 and administration of the long=term care alternatives programs
1 33 and the delivery of long=term care services to seniors with
1 34 low or moderate incomes.
1 35 The bill also provides that moneys in the fund are not to
2 1 be appropriated in an amount in excess of the amounts
2 2 specified for the purpose specified, or for purposes other
2 3 than those specified, until such time as the amount deposited
2 4 in the fund, following disbursement of moneys for the two
2 5 purposes and in the amounts specified, exceeds $200 million.
2 6 At such time as the amount exceeds $200 million, moneys in the
2 7 fund may be appropriated in an amount that does not reduce the
2 8 fund balance below $200 million and only for the purposes of
2 9 providing additional funding for implementation and
2 10 administration of the long=term care alternatives programs and
2 11 for delivery of long=term care services to seniors with low or
2 12 moderate incomes.
2 13 LSB 5593XS 80
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