2004 Session

Budget Amendments - HB30 (Member Request)

View Budget Item
View Budget Item amendments

Chief Patron: Tata
Retired Teacher Health Credit

Item 505 #2h

Item 505 #2h

First Year - FY2005 Second Year - FY2006
Central Appropriations
Central Appropriations FY2005 $2,000,000 FY2006 $2,000,000 GF

Page 370, line 50, strike "$12,058,693" and insert "$14,058,693".
Page 370, line 50, strike "$116,397,852" and insert "$118,397,852".
Page 376, after line 39, insert:
"P.  Notwithstanding the requirements of § 51.1-1401, Code of Virginia, retired teachers as defined in § 51.1-124.3, Code of Virginia, with at least 15 years of service shall be entitled to receive the monthly health insurance credit of $2.75 for each full year of creditable service."

(This amendment eliminates the current 30-year cap on the retiree health credit for retired teachers.)