HB485 Alabama 2019 Session
In Committee
Bill Summary
Sponsors
Session
Regular Session 2019
Title
State Treasury, Education Retirees' Trust Fund, created, cost-of-living adjustments, to provide funding by lottery if one is authorized
Description
This bill would create a separate fund in the State Treasury known as the Education Retirees' Trust Fund for Cost-of-Living Adjustments. The bill would provide for funding, including from a lottery if one is authorized; provide that when the assets of the trust are sufficient to fully fund a cost-of-living adjustment for education retirees of one percent or more, funds would be transferred and used for that purpose
To create the Education Retirees' Trust Fund for Cost-of-Living Adjustments for the purpose of providing education retirees with cost-of-living increases.
Subjects
State Treasury
Bill Actions
| Action Date | Chamber | Action |
|---|---|---|
| April 23, 2019 | H | Read for the first time and referred to the House of Representatives committee on Ways and Means Education |
Bill Text
Bill Documents
| Type | Link |
|---|---|
| Bill Text | HB485 Alabama 2019 Session - Introduced |