Illinois 93rd Regular Session Status: In Committee

SB 905 — ELDER CARE SAVINGS FUND ACT

Last action — Session Sine Die

  1. ✓
    Introduced
  2. 2
    In Committee
  3. 3
    Passed Senate
  4. 4
    Passed House
  5. 5
    To Executive
  6. 6
    Enacted

This bill died with 93rd Regular Session. It reached “In Committee” and never advanced before the session ended, so it can no longer move — a new version would have to be reintroduced in the current session.

This bill is no longer active — its legislative session has ended, so there is no live prognosis. It would have to be reintroduced in the current session to move again.

Summary

Creates the Elder Care Savings Fund Act and amends the Illinois Income Tax Act. Authorizes the State Treasurer to establish an Elder Care Savings Fund, in which individuals may invest. Provides that income on investments in the fund are exempt from all State and local taxation, except for estate, transfer, and inheritance taxes. Directs the Governor and the Director of the Bureau of the Budget to provide for a grant program of additional financial incentives to encourage persons' use of their investments in the fund for various types of long-term care. Requires the Treasurer, in cooperation with the Department on Aging and area agencies on aging, to develop a public education program concerning the financing of long-term health care. Creates the Elder Care Trust Authority to advise the Elder Care Savings Fund staff and to assess the program's effectiveness. Effective immediately.

Bill Text

Action History

  1. Session Sine Die

  2. Rule 3-9(a) / Re-referred to Rules

  3. Postponed - Financial Institutions

  4. Senate Committee Amendment No. 1 Referred to Rules

  5. Senate Committee Amendment No. 1 Filed with Secretary by Sen. Susan Garrett

  6. Postponed - Financial Institutions

  7. Assigned to Financial Institutions

  8. Referred to Rules

  9. First Reading

  10. Filed with Secretary by Sen. Susan Garrett

Sponsors

  • Susan Garrett · Cosponsor

Sponsorship breakdown

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0 sponsors · 1 co-sponsors · 182 not signed on

Sponsors (0)

None.

Co-sponsors (1)

  • Susan Garrett

Not signed on (182)

182 members have not signed on to this bill.

Show all 182 →

"Not signed on" means a member has not sponsored or co-sponsored this bill — it does not imply opposition. Members flagged Voted No have a recorded No vote on this bill.

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Subjects

taxation finance healthcare
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Frequently asked questions

What does SB 905 do?
Creates the Elder Care Savings Fund Act and amends the Illinois Income Tax Act. Authorizes the State Treasurer to establish an Elder Care Savings Fund, in which individuals may invest. Provides that income on investments in the fund are exempt from all State and local taxation, except for estate, transfer, and inheritance taxes. Directs the Governor and the Director of the Bureau of the Budget to provide for a grant program of additional financial incentives to encourage persons' use of their investments in the fund for various types of long-term care. Requires the Treasurer, in cooperation with the Department on Aging and area agencies on aging, to develop a public education program concerning the financing of long-term health care. Creates the Elder Care Trust Authority to advise the Elder Care Savings Fund staff and to assess the program's effectiveness. Effective immediately.
Who sponsors SB 905?
SB 905 is sponsored by Susan Garrett.
What is the current status of SB 905?
This bill died with 93rd Regular Session. It reached “In Committee” and never advanced before the session ended, so it can no longer move — a new version would have to be reintroduced in the current session.
Where can I track SB 905?
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Last checked for changes 3 months ago · updated continuously

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