Language Page 390, after line 30, insert"The Director, Department of Planning and Budget, shall withhold from general fund appropriations in Item 135 for Direct Aid to Public Education an amount estimated at $2,868,837 the first year and $2,945,751 the second year representing savings from a reduction in contribution rates for the group life insurance and for the retiree health care credit programs."
Explanation(This amendment captures savings in both years in Direct Aid to Public Education from lower contribution rates for the group life insurance and retiree health care credit program based on an investment return assumption of 8.0 percent. The Group Life rate will decrease from 0.49 percent to 0.45 percent and the Retiree Health Care Credit rate will decrease from 0.56 percent to 0.49 percent.)