HB 923 -- MISSOURI FAMILY TRUST

SPONSOR:  Holand

COMMITTEE ACTION:  Voted "do pass by consent" by the Committee on
Health Care Policy by a vote of 14 to 0.

This bill makes changes to the laws regarding the Missouri Family
Trust.

The bill:

(1)  Requires all state agencies to disregard the trust as a
resource when determining eligibility of Missouri residents for
assistance under Chapter 208, RSMo, unless prohibited by federal
laws or regulations;

(2)  Requires the Board of Trustees of the trust to advise,
consult, and render service to state departments and agencies and
to other nonprofit agencies that provide services to Missouri
residents with a disability and have a tax-exempt status under
Section 501(c)(3) of the Internal Revenue Code;

(3)  Authorizes the trust to accept contributions from an account
of a life beneficiary who dies.  The amount of the contribution
to the trust is subject to certain criteria;

(4)  Requires any matters resolved by arbitration to be conducted
in accordance with the Commercial Arbitration Rules of the
American Arbitration Association.  The bill also allows any
judgment on an arbitrator's award to be entered in any court of
competent jurisdiction;

(5)  Revises provisions pertaining to withdrawals of the
principal balance from an account of a life beneficiary, the
distribution of undistributed income, and the distribution of the
principal balance to a charitable trust; and

(6)  Allows any person, with the consent of the board, to
establish a restricted account within a charitable trust and to
determine the beneficiaries of the account.

FISCAL NOTE:  No impact on state funds.

PROPONENTS:  Supporters say that this trust is a special needs
trust that was established for beneficiaries who have a
developmental disability, mental illness, or a brain injury.  It
was created as a means for low- to moderate-income families to
provide a measure of financial security for a disabled family
member.  A majority of the trust accounts are under $10,000.  The
trust meets the federal Supplemental Security Income and state
Medicaid guidelines, and no state appropriations are used to
finance the program.  It enables disabled persons to live in less
restrictive and less expensive settings.

Testifying for the bill were Representatives Holand and Fraser;
and Missouri Family Trust.

OPPONENTS:  There was no opposition voiced to the committee.

Joseph Deering, Legislative Analyst

Missouri House of Representatives
92nd General Assembly, 2nd Regular Session
Last Updated September 23, 2004 at 11:14 am