HOUSE AMENDMENT

                                                Bill No. CS/HB 207

    Amendment No. 1b (for drafter's use only)

                            CHAMBER ACTION
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 5                                           ORIGINAL STAMP BELOW

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11  The Committee on Financial Services offered the following:

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13         Amendment (with title amendment) 

14         On page 6, lines 16 through page 7, line 2,

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  by rule establish penalties and procedures for enforcing

20  compliance with such penalties for the withdrawal of moneys

21  from individual development accounts under false pretenses or

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

23  The WAGES Program State Board of Directors may, at its

24  discretion, specify by rule conditions under which an account

25  shall be closed.

26         (9)  The fiduciary organization shall establish a

27  grievance committee.  The grievance committee shall conduct a

28  proceeding under ss. 120.569 and 120.57 on any grievance made

29  by a holder of an individual development account who disputes

30  a decision of the operating organization that a withdrawal is

31  subject to penalty.  The decision of the grievance committee

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    File original & 9 copies    03/08/00
    hfs0003                     10:10 am         00207-fs  -401831




                                                   HOUSE AMENDMENT

                                                Bill No. CS/HB 207

    Amendment No. 1b (for drafter's use only)





 1  must be made in writing.

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 4  ================ T I T L E   A M E N D M E N T ===============

 5  And the title is amended as follows:

 6         On page 1, line 12, after the word "accounts;",

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 8  insert:

 9         providing rulemaking authority

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    File original & 9 copies    03/08/00
    hfs0003                     10:10 am         00207-fs  -401831