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
  2 14 pf/pj/5