House Sponsors: PUGH-MCKEON. Short description: DHS-INDVIDUAL DEVELPMNT ACCNTS Synopsis of Bill as introduced: Amends the Illinois Public Aid Code. Provides that the Department of Human Services shall administer a program that allows eligible low-income individuals to maintain Individual Development Accounts with money from employment earnings to enable the individual to accumulate funds for postsecondary education, to purchase a first home, or to finance business capitalization expenses. Provides that the funds in the account shall be matched by a not-for-profit organization or by a State or local governmental agency acting in cooperation with a not-for-profit organization. Provides that the Department may match a set percentage of contributions made by the eligible individuals who have established Individual Development Accounts and make grants to not-for-profit organizations to administer the accounts. Provides that funds in an Individual Development Account shall be disregarded for the purpose of determining the eligibility and benefit levels under this Code. Effective immediately. HOUSE AMENDMENT NO. 1. Deletes everything. Amends the Public Aid Code. Reinserts language similar to the language as introduced but provides that the program shall be subject to appropriation or the availability of other funds. Designates allowable uses for State and federal funds under the program. Provides that to be eligible for State matching funds a program must secure at least a dollar for dollar match from other sources for contributions made by participating individuals. Provides that nothing in these provisions shall prohibit a not-for-profit organization which does not receive State matching funds from administering an approved Individual Development Account. Effective immediately. HOUSE AMENDMENT NO. 2. Removes the provision that the Individual Development Account program shall be established without appropriation if other resources are available. FISCAL NOTE, AMENDED (Dpt. Human Services) Fiscal impact is subject to appropriations. STATE MANDATES FISCAL NOTE HB 3387 fails to create a State mandate. STATE MANDDATES FISCAL NOTE, H-AMS 1 & 2 No change from previous note. Last action on Bill: SESSION SINE DIE Last action date: 99-01-12 Location: House Amendments to Bill: AMENDMENTS ADOPTED: HOUSE - 2 SENATE - 0 END OF INQUIRY Full Text Bill Status