Legislative Report #07-03

Report 07-03
February 9, 2007

SENATE APPOINTS COMMITTEES

Members of the Senate’s regular standing committees were appointed this week. The House is expected to announce committee assignments next week. In the interim, all House bills have been sent to the Rules Committee. These will be re-referred to the appropriate standing committees after members are appointed.

BILLS INTRODUCED THIS WEEK

There were several bills of interest introduced this week. A summary of each of these bills is presented below.

House Bill 72: Increase Fire and Rescue Pensions
(Primary Sponsor – Reps. Williams, Howard, McLawhorn, and E. Warren)

This bill proposes to increase the monthly retirement benefit for members of the Firemen’s and Rescue Squad Workers’ Retirement Fund from the current $165 to $170 effective July 1, 2007.

Senate Bill 73: Increase Fire and Rescue Pensions
(Sponsor – Sen. Dalton)

This Senate bill is identical to House Bill 73 noted above.

Senate Bill 71: State Retirees Health Benefits Trust Funds
(Sponsor – Sen. Pittenger)

The bill would establish the North Carolina State Retirees Health Benefits Trust Fund in the Office of State Budget and Management. The Fund would provide supplemental funding for retiree health benefits to offset any future shortfall in funding to cover these benefits. The bill also appropriates an initial sum of $250 million to the Fund.

Senate Bill 70: Hiring of Retired Teachers
(Sponsor – Sen. Pittenger)

This bill changes the length of the waiting period for retired public school teachers who return to work without loss of pension benefits from the current six calendar months to 25 working days after the effective date of retirement. The bill also directs the Retirement Systems Division to study changes in policy that will support the re-employment of retired teachers and reduce the teacher shortage.

House Bill 144: Reenact Long Term Care Tax Credit
(Primary Sponsors – Reps. Tarleton and Holliman)

The bill restores a state individual income tax credit for premiums paid for long term care insurance. The credit would be set at 15% of the annual premium paid with a maximum credit amount of $500.