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92_SB0817
LRB9206222DJmb
1 AN ACT in relation to public aid.
2 Be it enacted by the People of the State of Illinois,
3 represented in the General Assembly:
4 Section 5. The Illinois Public Aid Code is amended by
5 adding Section 12-10.5 as follows:
6 (305 ILCS 5/12-10.5 new)
7 Sec. 12-10.5. Medicaid Buy-In Program Revolving Fund.
8 (a) The Medicaid Buy-In Program Revolving Fund is
9 created. The Fund shall be held by the Department of Public
10 Aid. The Fund shall consist of all moneys received by the
11 Department in connection with the implementation of the
12 Medicaid Buy-In Program established under paragraph 11 of
13 Section 5-2 of this Code. Those moneys include the
14 following:
15 (1) Payments of buy-in premiums by individuals.
16 (2) Payments by insurance companies.
17 (3) Receipts from federal financial participation
18 paid as reimbursement to the State for expenditures from
19 the Fund.
20 (b) The Department shall use the moneys in the Fund to
21 pay for medical assistance benefits provided to participants
22 in the Medicaid Buy-In Program. The Department shall adopt
23 rules specifying the particular purposes for which the moneys
24 in the Fund may be spent and the amounts that may be spent
25 for those purposes.
26 (c) Moneys in the Fund that are not immediately required
27 for expenditure may be invested in certificates of deposit or
28 other interest-bearing accounts. All earnings on moneys in
29 the Fund shall be credited to the Fund.
30 Section 99. Effective date. This Act takes effect upon
-2- LRB9206222DJmb
1 becoming law.