1336 AMH STOK PRIN 694
HB 1336 - H AMD 24
By Representative Stokesbary
ADOPTED 03/02/2023
On page 8, line 14, after "board" strike ", upon request of the state treasurer" and insert "((, upon request of the state treasurer))"
On page 9, line 21, after "act, on" strike "July" and insert "August"
On page 12, line 6, after "board" strike ", upon request of the state treasurer" and insert "((, upon request of the state treasurer))"
On page 13, line 12, after "act, on" strike "July" and insert "August"
On page 21, beginning on line 25, strike all of section 13
On page 21, after line 34, insert the following:
"Sec. 13. 2020 c 144 s 3 (uncodified) is amended to read as follows:
((This act))Chapter 144, Laws of 2020 takes effect the later of January 1, 2021, or the date that the board for volunteer firefighters and reserve officers receives notice from the federal internal revenue service that the volunteer firefighters ((and reserve officers relief and pension system))plan is a qualified employee benefit plan under the federal law. The board must provide written notice of the effective date of this act to affected parties, the chief clerk of the house of representatives, the secretary of the senate, the office of the code reviser, and others as deemed appropriate by the board."
| EFFECT: Changes the date at which funds are transferred from the combined Volunteer Firefighters' and Reserve Officers' relief and pension fund to the separate funds for the plans created in the bill from July 1, 2023 to August 1, 2023. Removes the requirement for the State Treasurer to request that the State Investment Board invest the funds of the two plans. Removes an effective date that is contingent on the plan being qualified by the federal Internal Revenue Service (IRS) without the plan being divided, which is inconsistent with the terms of the bill that divide the plan. Changes the contingent effective date provision for benefits from Chapter 144, Laws of 2020 (ESSB 5829) to require IRS approval of the separate Volunteer Firefighters' plan, not the combined Volunteer Firefighters' and Reserve Officers' plan that is divided in the bill.
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