Introduced Version





SENATE RESOLUTION No. ___




DIGEST OF INTRODUCED RESOLUTION

    A SENATE RESOLUTION urging the Commission on State Tax and Financing Policy to study various forms of revenue for funding teachers and other retirement funds.



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     , read first time and referred to Committee on








Introduced

Second Regular Session 113th General Assembly (2004)


SENATE RESOLUTION

     MR. PRESIDENT:

        I offer the following resolution and move its adoption:

    A SENATE RESOLUTION to urging the Commission on State Tax and Financing Policy to study various forms of revenue for funding teachers and other retirement funds.

    Whereas, it is prudent government public policy to distribute tax burdens upon the broadest base as practical;

    Whereas, the State of Indiana will have increased financial responsibilities for funding teachers retirement costs;

    Whereas, it is forecast that the state's responsibility for providing retirement benefits for approximately 35,000 retired teachers and that the cost-of-living adjustments will increase approximately 50 percent over the near future; and

    Whereas, those retirement costs have been paid exclusively from revenues from the general fund and the teachers pension stabilization fund.

Be it resolved by the Senate of the

General Assembly of the State of Indiana:



    SECTION 1. That the Indiana General Assembly does urge the Commission on State Tax and Financing Policy to study sources of new revenue for the purpose of funding future teacher retirement costs and provide recommendations to the Indiana General Assembly by November 1, 2004