HOUSE AMENDMENT

    706-105AX5-32                               Bill No. CS/HB 207

    Amendment No.     (for drafter's use only)

                            CHAMBER ACTION
              Senate                               House
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 5                                           ORIGINAL STAMP BELOW

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11  Representative(s) Greenstein offered the following:

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13         Amendment 

14         On page 6, lines 16-26,

15  remove from the bill all of said lines,

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17  and insert in lieu thereof:

18         (8)  The WAGES Program State Board of Directors shall

19  establish penalties and procedures for enforcing compliance

20  with such penalties for the withdrawal of moneys from

21  individual development accounts under false pretenses or for

22  the use of such moneys for other than approved purposes. The

23  penalties established shall include, but not be limited to,

24  the repayment of moneys withdrawn that were not used for one

25  or more of the qualified purposes.  The WAGES Program State

26  Board of Directors may, at its discretion, specify conditions

27  under which an account shall be closed.

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    File original & 9 copies    04/14/00
    hbd0007                     02:54 pm         00207-0095-145711