Synopsis: Common school fund. Provides that: (1) the principal of the
common school fund may be appropriated only to reduce the unfunded
accrued liability of a public pension fund established for Indiana
teachers; and (2) the general assembly may authorize the income of the
common school fund to be used to reduce the unfunded accrued
liability of a public pension fund established for Indiana teachers. This
proposed amendment has not been previously agreed to by a general
Effective: This proposed amendment must be agreed to by two
consecutive general assemblies and ratified by a majority of the state's
voters voting on the question to be effective.
January 23, 2007, read first time and referred to Committee on Ways and Means.
PRINTING CODE. Amendments: Whenever an existing statute (or a section of the Indiana Constitution) is being amended, the text of the existing provision will appear in this style type, additions will appear in this style type, and deletions will appear in
this style type.
Additions: Whenever a new statutory provision is being enacted (or a new constitutional provision adopted), the text of the new provision will appear in this style type. Also, the word NEW will appear in that style type in the introductory clause of each SECTION that adds a new provision to the Indiana Code or the Indiana Constitution.
Conflict reconciliation: Text in a statute in this style type or
this style type reconciles conflicts
between statutes enacted by the 2006 Regular Session of the General Assembly.
A JOINT RESOLUTION proposing an amendment to Article 8 of
the Indiana Constitution concerning the common school fund.
to the support of Common Schools, only for
the following purposes, and to no other purpose whatever:
(1) The support of Common Schools.
(2) If authorized by the General Assembly, the reduction of the unfunded accrued liability of a public pension fund established by the General Assembly to provide retirement, disability, and survivor benefits for Indiana teachers.