HB 1111 Summary

• Creates the Prepaid Developmental Disabilities Savings Program administered by the Florida Prepaid College Board, consisting of a prepaid contract plan for advance payment of eligible services and an investment plan for benefactors to deposit funds for individuals with developmental disabilities under age 22

• Eligible services include respite care, rehabilitation, assistive technology, health-related services, housing assistance, education, and employment support for individuals with developmental disabilities who age out of the education system

• Establishes separate prepaid contract and investment funds within the Florida Prepaid College Trust Fund, with funds invested to generate interest and earnings retained in trust for designated beneficiaries and program administration

• Requires the board to obtain written opinions regarding patent/copyright infringement, federal securities law compliance, and pending litigation before program implementation, with initial enrollment beginning no later than July 1, 2011

• Creates the Prepaid Services for Parents of Children with Developmental Disabilities Study Group to recommend implementation and enrollment strategies, which is abolished once enrollment commences