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2008 Session

Budget Amendments - HB30 (Conference Report)

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Eliminate VRS Rate Impact Distribution in Introduced Budget

Item 472 #2c

Item 472 #2c

First Year - FY2009 Second Year - FY2010
Procedures for Prepayment of Civil Penalties in an Executive Order
Central Appropriations FY2009 ($2,984,079) FY2010 ($3,048,112) GF

Language
Page 421, line 46, strike "$23,190,703" and insert "$20,206,624".
Page 421, line 46, strike "$141,605,634" and insert "$138,557,522".
Page 427, strike lines 43 through 58.
Page 428, strike lines 1 through 55.
Page 429, strike lines 1 through 10.
Page 429, line 11, strike "O." and insert "K."


Explanation
(This amendment removes funding included in the introduced budget for the cost of the changes in the VRS contribution rates for state employees and state supported local employees through the compensation board as proposed in the introduced budget. It also deletes language which specified that contribution rates for public school teachers and state employees be calculated on an assumed 24-year amortization for the retirement programs. A companion amendment under Item 472.10 includes additional savings and language specifying contribution rates which assume a 30-year amortization for all programs administered through the VRS.)