Citations Affected:
IC 20-5-4-1.7
;
IC 20-5-64.
Synopsis: School retirement and severance plans. Provides that if a school corporation: (1)
establishes after June 30, 2001, a retirement or severance plan that will require the school
corporation to pay post-retirement or severance benefits to employees of the school corporation;
or (2) after June 30, 2001, enters into any agreement or contract provisions that will increase the
benefit or the unfunded liability under any retirement or severance provisions; the school
corporation must actuarially fund the post-retirement or severance benefits or the increase in the
benefits or unfunded liability. Authorizes school corporations to issue bonds to implement
solutions to contractual retirement or severance liability as it existed on June 30, 2001. Provides
that those school corporations may issue bonds for this purpose only one time and that the bonds
must be issued before December 31, 2003. Requires a reduction in property tax levies for the
school's capital projects fund, transportation fund, or art association and historical society funds
to offset the debt service levy needed. (This conference committee report: (1) deletes the
provision allowing school corporations an excessive levy for increased health insurance costs;
(2) deletes the provisions authorizing school corporations to impose a local option income tax
for education; (3) deletes the provisions authorizing school corporations to establish a health
insurance and retirement benefit fund and property tax levy; and (4) specifies that the bonds
issued to implement solutions to contractual retirement or severance liability are not subject to
the petition and remonstrance process.)
Effective: July 1, 2001; December 31, 2003.
MR. SPEAKER:
Your Conference Committee appointed to confer with a like committee from the Senate
upon Engrossed House Amendments to Engrossed Senate Bill No. 199 respectfully reports
that said two committees have conferred and agreed as follows to wit:
that the Senate recede from its dissent from all House amendments and that
the Senate now concur in all House amendments to the bill and that the bill
be further amended as follows:
Page 1, delete lines 1 through 17.
Delete pages 2 through 6.
Page 7, delete lines 1 through 28.
Page 8, line 4, delete "1998." and insert " 2001.".
Page 8, between lines 21 and 22, begin a new paragraph and insert:
" (e) Bonds issued under this section are not subject to the petition
and remonstrance process under
IC 6-1.1-20.".
Page 9, delete lines 8 through 42.
Page 10, delete lines 1 through 26.
Page 10, delete lines 41 through 42.
Delete page 11.
Renumber all SECTIONS consecutively.
(Reference is to ESB 199 as printed March 30, 2001.)
____________________________ ____________________________
Senator KenleyRepresentative Tincher
Chairperson
____________________________ ____________________________
Senator AlexaRepresentative Buell
Senate Conferees House Conferees