FORTY-SEVENTH LEGISLATURESB 216/a
FIRST SESSION, 2005
March 4, 2005
Madam President:
Your FINANCE COMMITTEE, to whom has been referred
SENATE BILL 216
has had it under consideration and reports same with recommendation that it DO PASS, amended as follows:
1. On page 1, line 11, after the semicolon strike the remainder of the line, strike line 12 and strike line 13 through the semicolon and insert in lieu thereof "PROVIDING THAT RETIREES WHO RETURN TO WORK MAKE NONREFUNDABLE CONTRIBUTIONS;".
2. On page 1, line 22, before "ADMINISTRATIVE" insert "EMPLOYEE CONTRIBUTIONS--".
3. On page 1, lines 24 and 25, remove the brackets and line through "until January 1, 2012" and on line 25, strike "through June 30, 2005".
4. On page 2, line 14, strike "July 1, 2005" and insert in lieu thereof "January 1, 2012".
5. On page 2, line 25, strike "not make" and insert in lieu thereof "make nonrefundable".
6. On page 3, lines 5 and 6, remove the brackets and line through "until January 1, 2012" and on line 6, strike "through June 30, 2005".
7. On page 3, line 16 through page 4, line 1, strike Subsection F through the period.
8. On page 4, between lines 1 and 2, insert the following sections:
"Section 2. TEMPORARY PROVISION--APPLICABILITY.--The provision of this act that requires employee contributions applies to salaries received by retired members on or after the effective date of this act, regardless of when the retired member returned to employment.
Section 3. EFFECTIVE DATE.--The effective date of the provisions of this act is July 1, 2005.".
Respectfully submitted,
__________________________________
Joseph A. Fidel, Chairman
Adopted_______________________ Not Adopted_______________________
(Chief Clerk) (Chief Clerk)
Date ________________________
The roll call vote was 6 For 0 Against
Yes: 6
No: 0
Excused: Campos, Carraro, Rodriguez, Tsosie
Absent: None
SB0216FC1 .156891.2