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S. 349, Special Needs Trust Fairness Act of 2015 1 (July 10, 2015)

handle is hein.congrec/cbo2441 and id is 1 raw text is: CONGRESSIONAL BUDGET OFFICE COST ESTIMATE July 10, 2015 S. 349 Special Needs Trust Fairness Act of 2015 As ordered reported by the Senate Committee on Finance on June 24, 2015 SUMMARY S. 349 would permit non-elderly individuals with disabilities to establish their own special needs trusts without having to file a petition with a court, which CBO expects would reduce the amount of time before such a trust is established. Because assets held in such trusts are not counted toward Medicaid or Supplemental Security Income (SSI) asset tests, effectively lowering the eligibility threshold for those programs, enacting the bill would allow some Medicaid and SSI benefits to be drawn sooner. CBO estimates that the bill would increase direct spending by $8 million over the 2016-2025 period. Because enacting the legislation would affect direct spending; pay-as-you-go procedures apply. Enacting the bill would not affect revenues. S. 349 contains no intergovernmental or private-sector mandates as defined in the Unfunded Mandates Reform Act (UMRA). ESTIMATED COST TO THE FEDERAL GOVERNMENT The estimated budgetary impact of S. 349 is shown in the following table. The costs of this legislation fall within budget function 550 (health).

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