Bill Text: TX SB1585 | 2015-2016 | 84th Legislature | Comm Sub
Bill Title: Relating to a study on the feasibility of establishing a prepaid investment plan or other product to help citizens of this state finance and access residential care.
Spectrum: Partisan Bill (Democrat 3-0)
Status: (Engrossed - Dead) 2015-05-29 - Committee report sent to Calendars [SB1585 Detail]
Download: Texas-2015-SB1585-Comm_Sub.html
| By: Lucio | S.B. No. 1585 | |
| (Raymond, Naishtat) | ||
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| relating to a study on the feasibility of establishing a prepaid | ||
| investment plan or other product to help citizens of this state | ||
| finance and access residential care. | ||
| BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: | ||
| SECTION 1. (a) In this section: | ||
| (1) "Commission" means the Health and Human Services | ||
| Commission. | ||
| (2) "Executive commissioner" means the executive | ||
| commissioner of the Health and Human Services Commission. | ||
| (3) "Residential care" means long-term services and | ||
| supports provided in the least restrictive care setting, including | ||
| a home or community-based setting, to persons who are elderly or | ||
| have disabilities. | ||
| (b) The executive commissioner in cooperation with the | ||
| comptroller of public accounts and the commissioner of aging and | ||
| disability services shall conduct a study on the feasibility of | ||
| developing a program that is: | ||
| (1) modeled after the prepaid higher education tuition | ||
| program established under Subchapter F, Chapter 54, Education Code; | ||
| (2) administered by the state; and | ||
| (3) designed to provide a mechanism through which | ||
| citizens of this state may invest in a prepaid investment plan or | ||
| other product meant to supplement long-term care insurance by | ||
| providing participants additional financial support to cover the | ||
| cost of residential care. | ||
| (c) In conducting the study under Subsection (b) of this | ||
| section, the executive commissioner shall: | ||
| (1) evaluate existing systems and programs for | ||
| providing residential care in this state; | ||
| (2) evaluate the economic circumstances of the elderly | ||
| and low-income populations and persons with disabilities in this | ||
| state who are in need of residential care; | ||
| (3) consider alternative systems and programs for | ||
| providing and financing residential care that will increase the | ||
| affordability, sustainability, desirability, quality, and | ||
| cost-effectiveness of residential care in this state, taking into | ||
| consideration model systems and programs used in other states; | ||
| (4) consult with interested stakeholders as well as | ||
| other appropriate state and federal agencies; | ||
| (5) consider ways to encourage participation, | ||
| coordination, and involvement of the federal government and private | ||
| sector; and | ||
| (6) consider the possibility of developing a | ||
| tax-advantaged investment plan under which either contributions to | ||
| the plan are tax-deductible for federal income tax purposes or | ||
| distributions of earnings from the plan are not subject to federal | ||
| income tax. | ||
| (d) Not later than November 1, 2016, the executive | ||
| commissioner shall submit a written report containing the findings | ||
| of the study conducted under Subsection (b) of this section | ||
| together with the executive commissioner's recommendations to the | ||
| governor and the legislature. The recommendations must include | ||
| proposals for alternative systems described by Subsection (c)(3) of | ||
| this section that are developed based on the findings of the study. | ||
| (e) This section expires September 1, 2017. | ||
| SECTION 2. This Act takes effect immediately if it receives | ||
| a vote of two-thirds of all the members elected to each house, as | ||
| provided by Section 39, Article III, Texas Constitution. If this | ||
| Act does not receive the vote necessary for immediate effect, this | ||
| Act takes effect September 1, 2015. | ||
