HB485 Alabama 2019 Session

Updated Apr 26, 2021

Summary

Primary Sponsor: Rod Scott
Democrat
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.
Subjects: State Treasury

Read for the first time and referred to the House of Representatives committee on Ways and Means Education