PENSION FUNDING FAIRNESS ACT
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HB 3136 — PENSION FUNDING FAIRNESS ACT
Last action — Session Sine Die
No card. One bill, free forever — alerts when it moves.
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✓Introduced
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2In Committee
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3Passed House
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4Passed Senate
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5To Executive
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6Enacted
This bill died with 97th Regular Session. It reached “In Committee” and never advanced before the session ended, so it can no longer move — a new version would have to be reintroduced in the current session.
This bill is no longer active — its legislative session has ended, so there is no live prognosis. It would have to be reintroduced in the current session to move again.
Summary
Creates the Pension Funding and Fairness Act. Provides that, beginning with the fiscal year that starts after the Act takes effect, the maximum annual percentage change in State fiscal year spending in the categories specified may not exceed the inflation adjustment factor plus the population adjustment factor and any increases attributable to specified measures. Provides that, in order to adopt an increase in State spending beyond the limitation or in order to adopt an increase in State revenue, the measure must be approved by a three-fifths supermajority vote of all members of each house of the General Assembly and must be approved by a majority of voters. Provides for imposition of emergency tax. Establishes the Past Due Paydown Fund, to which the Comptroller shall transfer any amount necessary up to the total past due operating debt owed by the State as of the close of fiscal year 2011, and provides that the General Assembly may authorize transfers, appropriations, and allocations from the fund only to fund the costs of paying down the remaining past due debt until such debt is zero. Provides that any remaining funds shall be transferred to the Common School Fund and the Education Assistance Fund. Establishes the State Budget Stabilization Fund to fund the costs of State government up to the expenditure limit in years when State revenues are less than the amount necessary to finance the level of expenditures. Amends the State Finance Act to create the Past Due Paydown Fund and the State Budget Stabilization Fund as special funds in the State treasury. Effective immediately.
Bill Text
- Introduced View text Current html
Action History
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Session Sine Die
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Rule 19(a) / Re-referred to Rules Committee
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House Committee Amendment No. 1 Tabled Pursuant to Rule 40
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House Committee Amendment No. 1 Rules Refers to Executive Committee
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House Committee Amendment No. 1 Referred to Rules Committee
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House Committee Amendment No. 1 Filed with Clerk by Rep. Daniel J. Burke; ; In line by 3PM. Timely filed in accordance with House Rule 18(e).
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Assigned to Executive Committee
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Referred to Rules Committee
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First Reading
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Filed with the Clerk by Rep. Bill Mitchell
Sponsors
- Bill Mitchell · Cosponsor
Sponsorship breakdown
Export CSV (upgrade) →0 sponsors · 1 co-sponsors · 182 not signed on
Sponsors (0)
None.
Co-sponsors (1)
- Bill Mitchell
Not signed on (182)
182 members have not signed on to this bill.
Show all 182 →"Not signed on" means a member has not sponsored or co-sponsored this bill — it does not imply opposition. Members flagged Voted No have a recorded No vote on this bill.
Subjects
Frequently asked questions
- What does HB 3136 do?
- Creates the Pension Funding and Fairness Act. Provides that, beginning with the fiscal year that starts after the Act takes effect, the maximum annual percentage change in State fiscal year spending in the categories specified may not exceed the inflation adjustment factor plus the population adjustment factor and any increases attributable to specified measures. Provides that, in order to adopt an increase in State spending beyond the limitation or in order to adopt an increase in State revenue, the measure must be approved by a three-fifths supermajority vote of all members of each house of the General Assembly and must be approved by a majority of voters. Provides for imposition of emergency tax. Establishes the Past Due Paydown Fund, to which the Comptroller shall transfer any amount necessary up to the total past due operating debt owed by the State as of the close of fiscal year 2011, and provides that the General Assembly may authorize transfers, appropriations, and allocations from the fund only to fund the costs of paying down the remaining past due debt until such debt is zero. Provides that any remaining funds shall be transferred to the Common School Fund and the Education Assistance Fund. Establishes the State Budget Stabilization Fund to fund the costs of State government up to the expenditure limit in years when State revenues are less than the amount necessary to finance the level of expenditures. Amends the State Finance Act to create the Past Due Paydown Fund and the State Budget Stabilization Fund as special funds in the State treasury. Effective immediately.
- Who sponsors HB 3136?
- HB 3136 is sponsored by Bill Mitchell.
- What is the current status of HB 3136?
- This bill died with 97th Regular Session. It reached “In Committee” and never advanced before the session ended, so it can no longer move — a new version would have to be reintroduced in the current session.
- Where can I track HB 3136?
- Track HB 3136 free on One Click Politics — get push/email alerts when it moves.
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