92nd General Assembly
Status of HB0617
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 Full Text  Bill Summary

   New Act                                                                     
   35 ILCS 5/203             from Ch. 120, par. 2-203                          

        Creates the Long-Term Care Savings Account  Act  and  amends  the      
   Illinois  Income Tax Act.  Authorizes an employer to offer a long-term      
   care savings account program to its employees for the reimbursement of      
   long-term care expenses paid by the employee for the long-term care of      
   a parent of the  employee;  also  authorizes  self-employed  or  other      
   individuals  to establish a long-term care savings account.   Provides      
   that principal contributed to and interest earned on  an  account  and      
   money  reimbursed  to  the  employee  or other individual for eligible      
   long-term care expenses are exempt from Illinois income tax.  Provides      
   that money withdrawn from an account for a purpose other  than  paying      
   long-term  care  expenses  is  taxable.   Repeals  the  Long-Term Care      
   Savings Account Act on January 1, 2012.                                     
   FEB-06-2001  H  FILED WITH CLERK                                               
   FEB-06-2001  H  FIRST READING                                                  
   FEB-06-2001  H  REFERRED TO HOUSE RULES COMMITTEE        RULES                 
   FEB-07-2001  H       ASSIGNED TO COMMITTEE               REVENUE               
   FEB-07-2001  H  ADDED AS A JOINT SPONSOR                 MATHIAS               
   FEB-09-2001  H  ADDED AS A CO-SPONSOR                    SCHOENBERG            
   FEB-16-2001  H  ADDED AS A JOINT SPONSOR                 MCKEON                
   FEB-20-2001  H  ADDED AS A CO-SPONSOR                    GARRETT               
   FEB-23-2001  H  ADDED AS A CO-SPONSOR                    COULSON               
   MAR-16-2001  H  RE-REFERRED TO RULES COMM/RULE 19(A)     RULES         HRUL    
   JAN-07-2003  H  SESSION SINE DIE                                               


 Full Text  Bill Summary