2012 -- H 7131 | |
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LC00557 | |
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STATE OF RHODE ISLAND | |
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IN GENERAL ASSEMBLY | |
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JANUARY SESSION, A.D. 2012 | |
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A N A C T | |
RELATING TO PUBLIC FINANCE - STATE FUNDS | |
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Introduced By: Representatives Guthrie, Dickinson, Carnevale, and Menard | |
Date Introduced: January 17, 2012 | |
Referred To: House Finance | |
It is enacted by the General Assembly as follows: | |
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SECTION 1. Chapter 35-4 of the General Laws entitled "State Funds" is hereby amended |
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by adding thereto the following section: |
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35-4-29. Pension lawsuit satisfaction fund. -- There is established a special escrow |
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pension lawsuit satisfaction fund which shall be used to pay any financial court judgments |
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rendered against the state as a result of successful pension law challenges. All state fiscal year- |
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end budget surplus revenues shall be deposited in this fund. The general assembly shall |
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appropriate the monies necessary to satisfy the fund’s purpose. |
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SECTION 2. This act shall take effect upon passage. |
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LC00557 | |
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EXPLANATION | |
BY THE LEGISLATIVE COUNCIL | |
OF | |
A N A C T | |
RELATING TO PUBLIC FINANCE - STATE FUNDS | |
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This act would establish a special escrow pension lawsuit satisfaction fund, which would |
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be funded in part by budget surplus revenues. |
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This act would take effect upon passage. |
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LC00557 | |
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