Florida Senate - 2016 SENATOR AMENDMENT
Bill No. CS for CS for SB 1652
Ì553686QÎ553686
LEGISLATIVE ACTION
Senate . House
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Floor: 1/AD/2R .
03/08/2016 11:00 AM .
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Senator Bradley moved the following:
1 Senate Amendment
2
3 Delete lines 42 - 91
4 and insert:
5 (b) The payroll of all employees in classifications covered
6 by a closed retirement plan or system that receives funds from
7 the pension liability surtax must be included in determining the
8 unfunded liability amortization schedule for the closed plan,
9 regardless of the plan in which the employees currently
10 participate, and the payroll growth assumption must be adjusted
11 to reflect the payroll of those employees when calculating the
12 amortization of the unfunded liability.
13 Section 2. Subsection (9) is added to section 212.055,
14 Florida Statutes, to read:
15 212.055 Discretionary sales surtaxes; legislative intent;
16 authorization and use of proceeds.—It is the legislative intent
17 that any authorization for imposition of a discretionary sales
18 surtax shall be published in the Florida Statutes as a
19 subsection of this section, irrespective of the duration of the
20 levy. Each enactment shall specify the types of counties
21 authorized to levy; the rate or rates which may be imposed; the
22 maximum length of time the surtax may be imposed, if any; the
23 procedure which must be followed to secure voter approval, if
24 required; the purpose for which the proceeds may be expended;
25 and such other requirements as the Legislature may provide.
26 Taxable transactions and administrative procedures shall be as
27 provided in s. 212.054.
28 (9) PENSION LIABILITY SURTAX.—
29 (a) The governing body of a county may levy a pension
30 liability surtax to fund an underfunded defined benefit
31 retirement plan or system, pursuant to an ordinance conditioned
32 to take effect upon approval by a majority vote of the electors
33 of the county voting in a referendum, at a rate that may not
34 exceed 0.5 percent. The county may not impose a pension
35 liability surtax unless the underfunded defined benefit
36 retirement plan or system is below 80 percent of actuarial
37 funding at the time the ordinance or referendum is passed. The
38 most recent actuarial report submitted to the Department of
39 Management Services pursuant to s. 112.63 must be used to
40 establish the level of actuarial funding for purposes of
41 determining eligibility to impose the surtax. The governing body
42 of a county may only impose the surtax if:
43 1. An employee, including a police officer or firefighter,
44 who enters employment on or after the date when the local
45 government certifies that the defined benefit retirement plan or
46 system formerly available to such an employee has been closed
47 may not enroll in a defined benefit retirement plan or system
48 that will receive surtax proceeds.
49 2. The local government and the collective bargaining
50 representative for the members of the underfunded defined
51 benefit retirement plan or system or, if there is no
52 representative, a majority of the members of the plan or system,
53 mutually consent to requiring each member to make an employee
54 retirement contribution of at least 10 percent of each member’s
55 salary for each pay period beginning with the first pay period
56 after the plan or system is closed.
57 3. The pension board of trustees for the underfunded
58 defined benefit retirement plan or system, if such board exists,
59 is prohibited from participating in the collective bargaining
60 process and engaging in the determination of pension benefits.
61 4. The county currently levies a local government
62 infrastructure surtax pursuant to subsection (2) which is
63 scheduled to terminate and is not subject to renewal.
64 5. The pension liability surtax does not take effect until
65 the local government infrastructure surtax described in
66 subparagraph 4. is terminated.