2007 Session

Budget Amendments - HB1650 (Conference Report)

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Teacher Retiree Health Care Credit

Item 135 #7c

Item 135 #7c

First Year - FY2007 Second Year - FY2008
Education: Elementary and Secondary
Direct Aid To Public Education FY2007 $0 FY2008 $11,869,331 GF

Page 131, line 19, strike "$6,004,522,879" and insert "$6,016,392,210".

(This amendment provides $11.9 million from the general fund the second year for the state's share of increased health insurance credits consistent with the conference report on Senate Bill 1218/House Bill 2370. The monthly health care credit is increasing from $2.50 to $4.00 per month for each year of creditable VRS service. The legislation also removes the cap of 30 years of service. The cost is based on a retiree health care credit rate of 1.16 percent, an increase of 0.46 percent over the introduced budget.)