Regular Session News #4: House Appropriations to hear Turner bill this morning; bill aims to reduce initial UAL with sales/use tax receipts
Apr 19, 2023
The House Appropriations Committee added Rep. Chris Turner’s bill, House Bill 170, to the agenda of its next meeting late yesterday afternoon. The bill will be heard at 10 a.m. today, Wednesday April 19 (agenda).
HB 170 would create the Teachers' Retirement Initial Unfunded Accrued Liability (IUAL) Fund in the state treasury as a special fund, and deposit a portion of the 0.45% state sales and use tax into the fund for monthly payments to the IUAL, beginning July 1, 2023.
If enacted, payments made to the IUAL through the Teachers’ Retirement IUAL fund cannot replace payments made pursuant to existing law and constitutional provisions. Funds in the IUAL fund cannot be used to directly or indirectly fund PBIs.
The chair of the House Appropriations Committee is Rep. Jerome Zeringue.
TRSL will keep you informed about the status of bills being monitored throughout the session. You can view all meeting schedules and agendas on the Louisiana State Legislature website. Visit the Legislature page of this website, to see all legislation impacting the retirement system.
Stay tuned for future updates.
HB 170 would create the Teachers' Retirement Initial Unfunded Accrued Liability (IUAL) Fund in the state treasury as a special fund, and deposit a portion of the 0.45% state sales and use tax into the fund for monthly payments to the IUAL, beginning July 1, 2023.
If enacted, payments made to the IUAL through the Teachers’ Retirement IUAL fund cannot replace payments made pursuant to existing law and constitutional provisions. Funds in the IUAL fund cannot be used to directly or indirectly fund PBIs.
The chair of the House Appropriations Committee is Rep. Jerome Zeringue.
TRSL will keep you informed about the status of bills being monitored throughout the session. You can view all meeting schedules and agendas on the Louisiana State Legislature website. Visit the Legislature page of this website, to see all legislation impacting the retirement system.
Stay tuned for future updates.