1128-S AMS ZARE SUND 004

SHB 1128 - S AMD to S COMM AMD (S-3134.3) 330

   By    Senator Zarelli

NOT ADOPTED 3/31/2007

   On page 237, after line 2, insert the following:

"  NEW SECTION. Sec. 911. FOR THE OFFICE OF FINANCIAL MANAGEMENT--CONTRIBUTIONS TO RETIREMENT SYSTEMS

General Fund--State Appropriation (FY 2008). . . . . . . . $9,285,000

General Fund--State Appropriation (FY 2009). . . . . . . . $9,285,000

Health Services Account--State Appropriation (FY 2008). . . . $57,000

Health Services Account--State Appropriation (FY 2009). . . . $57,000

Public Safety and Education Account (FY 2008). . . . . . . . $123,000

Public Safety and Education Account (FY 2009). . . . . . . . $123,000

Violence Reduction and Drug Enforcement Account--

   State Appropriation (FY 2008). . . . . . . . . . . . . . . $4,000

Violence Reduction and Drug Enforcement Account--

   State Appropriation (FY 2009). . . . . . . . . . . . . . . $4,000

Water Quality Account--State Appropriation (FY 2008). . . . . $40,000

Water Quality Account--State Appropriation (FY 2009). . . . . $40,000

General Fund--Federal Appropriation. . . . . . . . . . . . $4,545,000

General Fund--Private/Local Appropriation. . . . . . . . . . $504,000

Dedicated Funds and Accounts Appropriation. . . . . . . . .$6,476,000

          TOTAL APPROPRIATION. . . . . . . . . . . . . . $30,543,000

   The appropriations in this section are subject to the following conditions and limitations:

   The appropriations in this section are provided solely to increase appropriations to state agencies and institutions of higher education to reflect changes in retirement system contribution rates resulting from the adoption of revised mortality assumptions as recommended to the pension funding council by the state actuary in the preliminary 2005 actuarial valuation report. The office of financial management shall allocate the moneys appropriated in this section in the amounts specified to the state agencies and institutions of higher education specified in LEAP document number SMA - 2007, dated March 31, 2007, and adjust appropriation schedules accordingly.

   NEW SECTION. Sec. 912. FOR THE OFFICE OF FINANCIAL MANAGEMENT--CONTRIBUTIONS TO RETIREMENT SYSTEMS

General Fund--State Appropriation (FY 2008). . . . . . . .$21,978,000

General Fund--State Appropriation (FY 2009). . . . . . . .$28,309,000

          TOTAL APPROPRIATION. . . . . . . . . . . . . . $50,287,000

   The appropriations in this section are subject to the following conditions and limitations:

   The appropriations in this section are provided solely to increase school district funding allocations to reflect changes in retirement system contribution rates resulting from the adoption of revised mortality assumptions as recommended to the pension funding council by the state actuary in the preliminary 2005 actuarial valuation report. From the appropriations provided in this section, the director of financial management shall increase allotments from the general fund--state by $21,978,000 in fiscal year 2008 and $28,309,000 in fiscal year 2009.

   NEW SECTION. Sec. 913.   AGENCY EXPENDITURES FOR PURCHASED SERVICES. The office of financial management shall reduce allotments for all agencies for the purchase of goods and services from the general fund--state appropriations in this act by 6 percent. The general fund allotment reduction shall be placed in unallotted status and remain unexpended."

   Renumber the sections consecutively and correct any internal references accordingly.

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EFFECT: Provides funding for retirement system contributions at rates that incorporate revised mortality assumptions as recommended by the State Actuary to the Pension Funding Council in a preliminary report to the Pension Funding Council in 2006. The increase in general fund--state appropriations is offset by directing the Office of Financial Management to reduce the allotments to agencies for the purchase of goods and services by 6 percent.