| 1 | 1 | | By: Lucio S.B. No. 1585 |
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| 2 | 2 | | (Raymond, Naishtat) |
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| 3 | 3 | | |
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| 4 | 4 | | |
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| 5 | 5 | | A BILL TO BE ENTITLED |
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| 6 | 6 | | AN ACT |
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| 7 | 7 | | relating to a study on the feasibility of establishing a prepaid |
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| 8 | 8 | | investment plan or other product to help citizens of this state |
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| 9 | 9 | | finance and access residential care. |
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| 10 | 10 | | BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: |
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| 11 | 11 | | SECTION 1. (a) In this section: |
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| 12 | 12 | | (1) "Commission" means the Health and Human Services |
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| 13 | 13 | | Commission. |
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| 14 | 14 | | (2) "Executive commissioner" means the executive |
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| 15 | 15 | | commissioner of the Health and Human Services Commission. |
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| 16 | 16 | | (3) "Residential care" means long-term services and |
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| 17 | 17 | | supports provided in the least restrictive care setting, including |
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| 18 | 18 | | a home or community-based setting, to persons who are elderly or |
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| 19 | 19 | | have disabilities. |
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| 20 | 20 | | (b) The executive commissioner in cooperation with the |
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| 21 | 21 | | comptroller of public accounts and the commissioner of aging and |
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| 22 | 22 | | disability services shall conduct a study on the feasibility of |
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| 23 | 23 | | developing a program that is: |
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| 24 | 24 | | (1) modeled after the prepaid higher education tuition |
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| 25 | 25 | | program established under Subchapter F, Chapter 54, Education Code; |
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| 26 | 26 | | (2) administered by the state; and |
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| 27 | 27 | | (3) designed to provide a mechanism through which |
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| 28 | 28 | | citizens of this state may invest in a prepaid investment plan or |
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| 29 | 29 | | other product meant to supplement long-term care insurance by |
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| 30 | 30 | | providing participants additional financial support to cover the |
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| 31 | 31 | | cost of residential care. |
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| 32 | 32 | | (c) In conducting the study under Subsection (b) of this |
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| 33 | 33 | | section, the executive commissioner shall: |
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| 34 | 34 | | (1) evaluate existing systems and programs for |
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| 35 | 35 | | providing residential care in this state; |
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| 36 | 36 | | (2) evaluate the economic circumstances of the elderly |
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| 37 | 37 | | and low-income populations and persons with disabilities in this |
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| 38 | 38 | | state who are in need of residential care; |
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| 39 | 39 | | (3) consider alternative systems and programs for |
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| 40 | 40 | | providing and financing residential care that will increase the |
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| 41 | 41 | | affordability, sustainability, desirability, quality, and |
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| 42 | 42 | | cost-effectiveness of residential care in this state, taking into |
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| 43 | 43 | | consideration model systems and programs used in other states; |
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| 44 | 44 | | (4) consult with interested stakeholders as well as |
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| 45 | 45 | | other appropriate state and federal agencies; |
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| 46 | 46 | | (5) consider ways to encourage participation, |
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| 47 | 47 | | coordination, and involvement of the federal government and private |
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| 48 | 48 | | sector; and |
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| 49 | 49 | | (6) consider the possibility of developing a |
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| 50 | 50 | | tax-advantaged investment plan under which either contributions to |
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| 51 | 51 | | the plan are tax-deductible for federal income tax purposes or |
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| 52 | 52 | | distributions of earnings from the plan are not subject to federal |
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| 53 | 53 | | income tax. |
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| 54 | 54 | | (d) Not later than November 1, 2016, the executive |
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| 55 | 55 | | commissioner shall submit a written report containing the findings |
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| 56 | 56 | | of the study conducted under Subsection (b) of this section |
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| 57 | 57 | | together with the executive commissioner's recommendations to the |
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| 58 | 58 | | governor and the legislature. The recommendations must include |
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| 59 | 59 | | proposals for alternative systems described by Subsection (c)(3) of |
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| 60 | 60 | | this section that are developed based on the findings of the study. |
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| 61 | 61 | | (e) This section expires September 1, 2017. |
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| 62 | 62 | | SECTION 2. This Act takes effect immediately if it receives |
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| 63 | 63 | | a vote of two-thirds of all the members elected to each house, as |
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| 64 | 64 | | provided by Section 39, Article III, Texas Constitution. If this |
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| 65 | 65 | | Act does not receive the vote necessary for immediate effect, this |
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| 66 | 66 | | Act takes effect September 1, 2015. |
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