SB 233-1_ Filed 02/14/2002, 09:43
Your Committee on Ways and Means , to which was referred Senate Bill 233 ,
has had the same under consideration and begs leave to report the same back to the House
with the recommendation that said bill be amended as follows:
SOURCE: Page 3, line 17; (02)CR023301.3. -->
Page 3, after line 17, begin a new paragraph and insert:
SOURCE: IC 21-6.1-7-12; (02)CR023301.3. -->
IS AMENDED TO READ AS
FOLLOWS [EFFECTIVE UPON PASSAGE]: Sec. 12. (a) Annually
the board shall certify to each school corporation and each school
corporation shall pay its employer contribution rate to the fund,
computed as specified in
for the employer contribution for
teachers covered by the 1996 account, including its share of
administration expenses for the 1996 account. However,
, if the total employer contribution
rate to the fund chargeable to a school corporation before July 1,
2006, for the employer contribution for teachers covered by the
1996 account, is greater than nine percent (9%), the total
employer contribution rate may not exceed the rate approved by
the budget agency after review by the budget committee.
(b) The board shall determine the amount of unfunded accrued
liability of the school corporations. The board shall determine the
unfunded accrued liability by individual employers or by a group of
employers. The school corporations shall pay the amount in a lump
sum or amortize the amount over a period determined by the board.
(c) The payments by school corporations for the amounts in
subsections (a), (b), and (d) are allocated to the school corporations
and not to the state.
(d) If a school corporation's account shows a deficit, the board may
require the school corporation to make additional payments necessary
to eliminate the deficit, in addition to the employer contributions
computed under subsections (a) and (b).
SOURCE: ; (02)CR023301.4. -->
SECTION 4. An emergency is declared for this act.
Renumber all SECTIONS consecutively.
(Reference is to SB 233 as printed January 29, 2002.)
and when so amended that said bill do pass.
CR023301/DI 103 2002