Sen. Don Harmon

Filed: 5/3/2007

 

 


 

 


 
09500HB1256sam001 LRB095 05329 DRJ 35691 a

1
AMENDMENT TO HOUSE BILL 1256

2     AMENDMENT NO. ______. Amend House Bill 1256 on page 7, by
3 replacing lines 8 through 16 with the following:
4     "11, the Department shall, subject to federal approval:
5             (a) set the income eligibility standard at not
6         lower than 350% of the federal poverty level;
7             (b) exempt retirement accounts that the person
8         cannot access without penalty before the age of 59 1/2,
9         and medical savings accounts established pursuant to
10         26 U.S.C. 220;
11             (c) allow non-exempt assets up to $25,000 as to
12         those assets accumulated during periods of eligibility
13         under this paragraph 11; and
14             (d) continue to apply subparagraphs (b) and (c) in
15         determining the eligibility of the person under this
16         Article even if the person loses eligibility under this
17         paragraph 11.".