Legislative Session News Archive
3rd Extraordinary Session News #7: Senate passes UAL payment bill
Nov 22, 2024
Today, the full Senate amended and passed House Bill 7 (Rep. Emerson). HB 7 seeks to revise the state constitution to require an additional, one-time payment to the unfunded accrued liability (UAL). The proposed payment is designed to reduce the employer contribution rate for TRSL-participating employers. The state treasurer must transfer funds for the one-time UAL payment to TRSL by May 1, 2025. The amendments were unrelated to the one-time U...
3rd Extraordinary Session News #6: UAL payment bill clears another legislative hurdle
Nov 20, 2024
Yesterday, the Senate Revenue and Fiscal Affairs committee reported House Bill 7 (Rep. Emerson) favorably with amendments. HB 7 seeks to revise the state constitution to require an additional, one-time payment to the unfunded accrued liability (UAL). The proposed payment is designed to reduce the employer contribution rate for TRSL-participating employers. While most of the amendments were technical in nature, one amendment added a date &ndash...
3rd Extraordinary Session News #5: UAL payment bill to be heard in Senate committee on Sunday
Nov 15, 2024
House Bill 7 (Rep. Emerson) is scheduled to be heard in the Senate Revenue and Fiscal Affairs committee at 1:30 p.m. on Sunday, November 17 (agenda). HB 7 seeks to revise the state constitution to require an additional, one-time payment to the unfunded accrued liability (UAL), which is designed to reduce the employer contribution rate for TRSL-participating employers. In other news… On Thursday, the full House am...
3rd Extraordinary Session News #4:House passes UAL payment bill; teacher pay raise bill also moves forward
Nov 12, 2024
House Bill 7 (Rep. Emerson) continues to make headway at the legislature, achieving passage in the full House today. An amended HB 7 seeks to revise the state constitution to allow an additional, one-time payment to the unfunded accrued liability (UAL), which is designed to reduce the employer contribution rate for TRSL-participating employers. The amendments were technical in nature with no substantive effect on the UAL payment proposal. H...