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1997 SESSION

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974802376
HOUSE BILL NO. 2176 Offered January 16, 1997 A BILL to amend the Code of Virginia by adding a section numbered 30-19.1:7, establishing the time for requesting and introducing certain retirement bills; impact statements. ---------- Patron-- Murphy ---------- Referred to Committee on Rules ----------

Be it enacted by the General Assembly of Virginia:

1. That the Code of Virginia is amended by adding a section numbered 30-19.1:7 as follows:

§ 30-19.1:7. Requests and introduction of bills related to the Virginia Retirement System; bill request and introduction; impact statements.

Any bill proposing to amend, add, repeal, or otherwise affect or modify the Virginia Retirement System (§ 51.1-124.1 et seq.), State Police Officers Retirement System (§ 51.1-200 et seq.), or Judicial Retirement System (§ 51.1-300 et seq.) shall be (i) submitted to the Division of Legislative Services for bill drafting no later than December 15 in the year immediately prior to the year in which the bill is to be considered by the General Assembly and (ii) prefiled in accordance with the provisions of § 30-19.3 on or before December 20 in the year immediately prior to the year in which the bill is to be considered by the General Assembly.

On or before January 15 of each year, the Board of Trustees of the Virginia Retirement System shall investigate, prepare and submit to the Clerk of the House of Delegates, the Clerk of the Senate, the Commission on Local Government, and the Division of Legislative Services a statement of (i) the financial impact of the proposed bill upon the general fund and the various local governments that have elected to become part of the Virginia Retirement System pursuant to § 51.1-800 and (ii) the policy implications that such bill will have on the various systems administered by the Board of Trustees. Such statement shall also note the potential impact any introduced bill will have on local government independent retirement systems.