Today, the Senate passed SB 954, which makes appropriations for EVIP/Statutory Revenue Sharing. The bill appropriates the same amount that the Governor proposed $210 million. It reduced the years for budget projects as part of the dashboard (category 1) to two years, from the Governor’s three. For category two, the Senate just requires an update on the consolidated plan that was produced by the local community in the prior (original) year. For category three, there are now two ways to qualify. You can EITHER comply by meeting the three requirements regarding pension parameters as they exist today (caps on employer contribution, multipliers and final average compensation) OR you can certify you are in compliance with PA 152 which is the new law regarding a hard cap, 80/20 share or opt of health care costs. The League worked very closely with Senator Pappageorge on these changes and we are grateful that he made many changes to provide local communities more flexibility toward obtaining their EVIP funds. The bill now heads to a conference committee between the House and Senate where the differences will be worked out in the next couple of weeks.
Summer Minnick is the Director of State Affairs for the League. She can be reached at (517)-908-0301 or [email protected].