LOCAL RETIRE. SYSTEM: HEALTH CARE - H.B. 6428 (H-1): FLOOR ANALYSIS
House Bill 6428 (Substitute H-1 as discharged)
Sponsor: Representative Joseph Rivet
House Committee: Senior Health, Security and Retirement
Senate Committee: Appropriations
CONTENT
The bill would amend Public Act 28 of 1966 (which authorizes the board of a local retirement system to increase benefits) to extend to counties provisions that allow the use of interest income on retirement reserve funds to pay for supplemental health benefits. Currently, these provisions apply only to cities, villages, and townships.
MCL 38.571 & 38.572 -
FISCAL IMPACT
The bill would have no fiscal impact on State resources. There would be an indeterminate fiscal impact on local units of government depending on how many counties decided to take advantage of the provisions in the bill.
Date Completed: 12-5-02 - Fiscal Analyst: Joe Carrasco, Jr.Floor\hb6428 - Bill Analysis @ www.senate.michigan.gov/sfa
This analysis was prepared by nonpartisan Senate staff for use by the Senate in its deliberations and does not constitute an official statement of legislative intent.