Illinois General Assembly - Bill Status for HB5237

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Bill Status of HB5237 96th General Assembly

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Short Description: HEALTH SAVINGS ACCOUNTS

House Sponsors
Rep. Patricia R. Bellock and Robert F. Flider

Last Action

Date	Chamber	Action
1/11/2011	House	Session Sine Die

Statutes Amended In Order of Appearance

New Act

35 ILCS 5/203

from Ch. 120, par. 2-203

Synopsis As Introduced
Creates the Health Savings Account Act and amends the Illinois Income Tax Act. Provides that, beginning in taxable year 2011, a resident of Illinois or an employer may deposit contributions, subject to certain limitations, into a health savings account. Provides that the principal contributed to and the interest earned on a health savings account and money reimbursed to an eligible individual or an employee for qualified medical expenses is exempt from the Illinois income tax. Sets forth restriction on the use of funds held in a health savings account. Provides that an eligible individual may withdraw money from his or her health savings account for any purpose, but provides that certain withdrawals are not tax exempt. Repeals the Health Savings Account Act on January 1, 2022. Effective July 1, 2010.

Actions

Date	Chamber	Action
2/3/2010	House	Filed with the Clerk by Rep. Patricia R. Bellock
2/3/2010	House	First Reading
2/3/2010	House	Referred to Rules Committee
3/2/2010	House	Assigned to Revenue & Finance Committee
3/15/2010	House	Rule 19(a) / Re-referred to Rules Committee
5/4/2010	House	Added Co-Sponsor Rep. Robert F. Flider
1/11/2011	House	Session Sine Die

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