Bill > H84

This bill establishes a pilot program managed by the Department of Health and Human Services to offer a one-time loan of up to $10,000 to thirty individuals in the Commonwealth to help cover expenses directly related to a child diagnosed with a terminal illness, which is defined as an illness likely to cause death within six months. The Department of Public Health will set the eligibility standards, and the loan terms, including an interest rate of either 2% or the current market rate, whichever is higher, will be determined by the Department of Health and Human Services. Funds from the loan must be used for direct expenditures related to the terminally ill family member, and recipients must provide documentation to verify these expenses. The loan will be held in a separate account accessible by both the department and the recipient, with repayment beginning one year after the loan is issued, and failure to adhere to the loan agreement will result in a 15% interest rate for the remainder of the loan.