2014 -- H 7180 | |
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LC003605 | |
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STATE OF RHODE ISLAND | |
IN GENERAL ASSEMBLY | |
JANUARY SESSION, A.D. 2014 | |
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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 Johnston | |
Date Introduced: January 23, 2014 | |
Referred To: House Finance | |
It is enacted by the General Assembly as follows: | |
1 | SECTION 1. Chapter 35-4 of the General Laws entitled "State Funds" is hereby amended |
2 | by adding thereto the following section: |
3 | 35-4-29. Pension lawsuit satisfaction fund. -- There is established a special escrow |
4 | pension lawsuit satisfaction fund which shall be used to pay any financial court judgments |
5 | rendered against the state as a result of successful pension law challenges. All state fiscal year- |
6 | end budget surplus revenues shall be deposited in this fund. The general assembly shall |
7 | appropriate the monies necessary to satisfy the fund’s purpose. |
8 | SECTION 2. This act shall take effect upon passage. |
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LC003605 | |
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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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1 | This act would establish a special escrow pension lawsuit satisfaction fund, which would |
2 | be funded in part by budget surplus revenues. |
3 | This act would take effect upon passage. |
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LC003605 | |
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