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A BILL TO BE ENTITLED
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AN ACT
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relating to the asset test for determining eligibility for the |
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child health plan program. |
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BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: |
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SECTION 1. Section 62.101, Health and Safety Code, is |
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amended by adding Subsection (b-1) to read as follows: |
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(b-1) The eligibility standards adopted under Subsection |
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(b) related to allowable assets: |
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(1) must allow a family to own at least $10,000 in |
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allowable assets; and |
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(2) may not consider for eligibility purposes: |
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(A) one vehicle, or, if two individuals |
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considered in the calculation of family income are working, two |
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vehicles; |
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(B) the value of a vehicle, to the extent of any |
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amount owed on the vehicle; |
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(C) a right to receive retirement benefits in the |
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future and the amount contributed to a retirement plan or system by |
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or on behalf of an individual if the individual cannot withdraw the |
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contributions without penalty; or |
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(D) a retirement or education savings account |
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established in accordance with federal law if the amounts contained |
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in the accounts cannot be withdrawn for use for general purposes |
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without penalty. |
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SECTION 2. This Act takes effect immediately if it receives |
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a vote of two-thirds of all the members elected to each house, as |
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provided by Section 39, Article III, Texas Constitution. If this |
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Act does not receive the vote necessary for immediate effect, this |
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Act takes effect September 1, 2007. |