Funds by Fund Number with Statutory Language
Statutory Language:
(a) All qualified group workers' compensation pools shall pay a sum equal to 0.5% of all compensation and medical service
payments made under either the Workers' Compensation Act or the Workers' Occupational Diseases Act during the 6 months
immediately preceding the date of payment, into the Group Workers' Compensation Pool Insolvency Fund, the successor
fund to the Group Self‑Insurers' Insolvency Fund. On the effective date of this amendatory Act of the 91st General
Assembly, all moneys in the Group Self‑Insurers' Insolvency Fund shall be transferred into the Group Workers'
Compensation Pool Insolvency Fund.
(b) The State Treasurer is ex‑officio custodian of the Group Workers' Compensation Pool Insolvency Fund. Moneys in the
Fund shall be deposited the same as are State funds and any interest accruing on moneys in the Fund shall be added to the
Fund every 6 months. The Fund shall be subject to audit the same as State funds and accounts and shall be protected by the
general bond given by the State Treasurer. The Fund shall be considered always appropriated for the purposes of
compensating employees who are eligible to receive benefits from their employers pursuant to the provisions of the Workers'
Compensation Act or Workers' Occupational Diseases Act when their employer is a member of a qualified group workers'
compensation pool and the qualified group workers' compensation pool has become unable to pay compensation and medical
service payments due to financial insolvency either prior to or following the date of award. Moneys in the Fund may be used
to compensate any type of injury or occupational disease that is compensable under either the Workers' Compensation Act or
the Workers' Occupational Diseases Act. The State Treasurer shall be joined with the qualified group workers' compensation
pool as party respondent in any claim or application for adjustment of claim filed against a qualified group workers'
compensation pool whenever the compensation and medical services provided pursuant to this Article may be unpaid by
reason of default of an insolvent qualified group workers' compensation pool.
(c) Payment shall be made out of the Group Workers' Compensation Pool Insolvency Fund only upon order of the Director
and only after the penal sum of the fidelity bond and securities, if any, has been exhausted. It shall be the obligation of a
qualified group workers' compensation pool or its successor to make arrangements to repay the Group Workers'
Compensation Pool Insolvency Fund for all moneys paid out in its behalf. The Director is authorized to make arrangements
with the qualified group workers' compensation pool as to terms of repayment. The obligations of qualified group workers'
compensation pools to make contributions to the Group Workers' Compensation Pool Insolvency Fund shall be waived on
any January 1 or July 1, if the Fund has a positive balance of at least $2,000,000 on the date one month prior to the date of
payment.
Fund Purpose: The purpose of this Fund is to receive and record payments equal to 0.5% of all compensation and
medical payments under either the Workers' Compensation Act or the Workers' Occupational Diseases
Act during the six months preceding the date of payment.
Fund Number 0740 Medicaid Buy-In Program Revolving Fund
Chapter 0305 Act 0005 Section 12-10.6
Fund Group: Special State Fund Total Revenue FY05: $451,688
Total Revenue FY06: $514,348
Fund Type: Appropriated
Administering Agency: Healthcare and Family Services
Statutory Language:
(a) The Medicaid Buy-In Program Revolving Fund is created as a special fund in the State treasury. The Fund shall consist
of cost-sharing payments made by individuals pursuant to the Medicaid Buy-In Program established under paragraph 11 of
Section 5-2 of this Code. All earnings on moneys in the Fund shall be credited to the Fund.
(b) Moneys in the Fund shall be appropriated to the Department to pay the costs of administering the Medicaid Buy-In
Program, including payments for medical assistance benefits provided to Program participants. The Department shall adopt
rules specifying the particular purposes for which the moneys in the Fund may be spent.
Fund Purpose: The purpose of this Fund is to receive and record monies obtained from cost-sharing payments made
by individuals in accordance with the Medicaid Buy-In Program and any investment income.
Funds by Fund Number with Statutory Language Page 363
