Senate File 29 - Introduced SENATE FILE BY KREIMAN 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, providing for 2 appropriation of the moneys in the fund, and providing for a 3 repeal. 4 BE IT ENACTED BY THE GENERAL ASSEMBLY OF THE STATE OF IOWA: 5 TLSB 1130XS 81 6 pf/pj/5 PAG LIN 1 1 Section 1. Section 249H.5, subsection 2, paragraph a, Code 1 2 2005, is amended to read as follows: 1 3 a. To the department of human services, a maximum of 1 4 eighty million dollarsfor the fiscal period beginning July 1, 1 5 2000, and ending on or before June 30, 2005,to be used for 1 6 the conversion of existing nursing facility space and 1 7 development of long=term care alternatives. 1 8 Sec. 2. Section 249H.5, subsection 3, Code 2005, is 1 9 amended to read as follows: 1 10 3. a. Any funds remaining after disbursement of moneys 1 11 under subsection 2 shall be invested with the interest earned 1 12 to be available in subsequent fiscal years for the purposes 1 13 provided in subsection 2, paragraph "b", and subsection 2, 1 14 paragraph "c", subparagraphs (1) and (2). 1 15 b. Moneys in the fund shall not be appropriated in an 1 16 amount in excess of the amount appropriated for the purposes 1 17 specified in subsection 2, or for purposes other than those 1 18 specified in subsection 2, until such time as the amount 1 19 deposited in the fund, following disbursement of moneys under 1 20 subsection 2, exceeds two hundred million dollars. At such 1 21 time, moneys in the fund may be appropriated in an amount that 1 22 does not reduce the fund balance below two hundred million 1 23 dollars and only for the purpose of providing additional 1 24 funding for the purposes of subsection 2. 1 25 Sec. 3. Section 249H.11, Code 2005, is repealed. 1 26 EXPLANATION 1 27 This bill provides for the use of moneys in the senior 1 28 living trust fund. The bill removes the limitation period of 1 29 July 1, 2000, through June 30, 2005, for use of the moneys for 1 30 conversion of existing nursing facility space and development 1 31 of long=term care alternatives. The bill prohibits 1 32 appropriation of moneys in the fund in excess of the amounts 1 33 specified for the purposes specified, or for purposes other 1 34 than those specified, until such time as the amount deposited 1 35 in the fund, following disbursements of moneys for the 2 1 purposes specified, exceeds $200 million. At such time as the 2 2 amount exceeds $200 million, moneys in the fund may be 2 3 appropriated in an amount that does not reduce the fund 2 4 balance below $200 million and only for the purposes 2 5 specified. 2 6 The bill also eliminates the repeal of the section 2 7 regarding nursing facility conversion and long=term care 2 8 services development grants. 2 9 LSB 1130XS 81 2 10 pf/pj/5.1