(a) The Department may establish and maintain a pilot program to provide for and test the use of lifelong learning accounts for workers in the State‘s healthcare sector. For the purposes of this Section, “lifelong learning account” means an individual asset account held by a trustee, custodian, or fiduciary approved by the Department on behalf of a healthcare employee, the moneys in which may be used only to pay education expenses incurred by or on behalf of the account owner.
     (b) The Department, if administering a program under this Section:

Terms Used In Illinois Compiled Statutes 20 ILCS 605/605-435

  • Appropriation: The provision of funds, through an annual appropriations act or a permanent law, for federal agencies to make payments out of the Treasury for specified purposes. The formal federal spending process consists of two sequential steps: authorization
  • Fiduciary: A trustee, executor, or administrator.
  • individual: shall include every infant member of the species homo sapiens who is born alive at any stage of development. See Illinois Compiled Statutes 5 ILCS 70/1.36
  • State: when applied to different parts of the United States, may be construed to include the District of Columbia and the several territories, and the words "United States" may be construed to include the said district and territories. See Illinois Compiled Statutes 5 ILCS 70/1.14
  • Trustee: A person or institution holding and administering property in trust.

         (1) may serve up to 500 healthcare workers;
         (2) must encourage the participation, in the program,
    
of lower-income and lower-skilled healthcare workers;
        (3) must implement the program in diverse geographic
    
and economic areas and include healthcare workers in urban, suburban, and rural areas of the State;
        (4) must include, in the program, healthcare
    
employers of different sizes that choose to participate in the program;
        (5) must provide matching grants in an amount, not to
    
exceed $500 annually for each grant, equal to 50% of the annual aggregate contribution made by an employer and employee to the employee’s lifelong learning account;
        (6) must make technical assistance available to
    
companies and educational and career advising available to individual participants.
    (c) The establishment of program under this Section is discretionary on the part of the Department and is subject to appropriation.
     (d) The Department may adopt any rules necessary to administer the provisions of this Section.
  Previous section
Next section  
 Article 605 Contents