General Assembly |
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January Session, 2007 |
LCO No. 5519 | ||
*05519HB06281INS* | |||
Referred to Committee on Insurance and Real Estate |
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Introduced by: |
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(INS) |
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AN ACT ENSURING FUNDS FOR HEALTH INSURANCE FOR ALL CONNECTICUT RESIDENTS.
Be it enacted by the Senate and House of Representatives in General Assembly convened:
Section 1. (NEW) (Effective from passage) (a) There is established an account within the General Fund to be known as the "healthcare trust account". Said account shall contain any moneys required by law to be deposited in the account. Any balance remaining in said account at the end of any fiscal year shall be carried forward in said account for the fiscal year next succeeding. Said account shall be invested by the State Treasurer in long-term and short-term investments using the investment guidelines for the Connecticut Retirement Plans and Trust Funds (CRPTF) and the Short Term Investment Fund (STIF), respectively.
(b) The State Treasurer may accept and receive on behalf of said account any available federal, state or private funds. Any such funds shall be deposited in the account.
(c) The proceeds of said account shall be allocated to fund the implementation of health insurance plans for uninsured residents of this state, quality health care for all residents of this state, long-term care programs, prevention and wellness programs or to increase payments to providers and hospitals or for the provision of premium subsidies as necessary.
Sec. 2. (Effective July 1, 2007) Notwithstanding the provisions of section 4-28e of the general statutes, the sum of one hundred million dollars shall, for the fiscal year ending June 30, 2008, and each fiscal year thereafter, be transferred from the Tobacco Settlement Fund to the healthcare trust account established pursuant to section 1 of this act.
Sec. 3. (Effective from passage) The sum of two hundred fifty million dollars is transferred to the healthcare trust account established pursuant to section 1 of this act, from the General Fund, for the fiscal year ending June 30, 2007.
Sec. 4. (Effective from passage) Notwithstanding the provisions of section 4-30a of the general statutes, the sum of two hundred fifty million dollars is transferred from the Budget Reserve Fund to the healthcare trust account established pursuant to section 1 of this act, for the fiscal year ending June 30, 2007.
This act shall take effect as follows and shall amend the following sections: | ||
Section 1 |
from passage |
New section |
Sec. 2 |
July 1, 2007 |
New section |
Sec. 3 |
from passage |
New section |
Sec. 4 |
from passage |
New section |
Statement of Purpose:
To establish a trust account with the State Treasurer to ensure funding for health insurance for all Connecticut residents and quality health care for such residents.
[Proposed deletions are enclosed in brackets. Proposed additions are indicated by underline, except that when the entire text of a bill or resolution or a section of a bill or resolution is new, it is not underlined.]