Bill Text: MI SB0694 | 2017-2018 | 99th Legislature | Chaptered
Bill Title: Retirement; fire and police; paying retiree health benefits from interest earned on a local unit of government retirement system subject to the protecting local government retirement and benefits act; provide for. Amends sec. 1 of 1966 PA 28 (MCL 38.571). TIE BAR WITH: SB 0686'17
Spectrum: Partisan Bill (Republican 1-0)
Status: (Passed) 2017-12-28 - Assigned Pa 206'17 With Immediate Effect [SB0694 Detail]
Download: Michigan-2017-SB0694-Chaptered.html
Act No. 206
Public Acts of 2017
Approved by the Governor
December 19, 2017
Filed with the Secretary of State
December 20, 2017
EFFECTIVE DATE: December 20, 2017
STATE OF MICHIGAN
99TH LEGISLATURE
REGULAR SESSION OF 2017
Introduced by Senators Stamas and Marleau
ENROLLED SENATE BILL No. 694
AN ACT to amend 1966 PA 28, entitled “An act to authorize the board of trustees of police and firemen retirement systems, municipal employees retirement systems, or county retirement systems to increase benefits,” by amending section 1 (MCL 38.571), as amended by 2002 PA 602.
The People of the State of Michigan enact:
Sec. 1. Subject to the protecting local government and retirement benefits act, the board of trustees with the approval of the governing body of the county, city, village, or township of any police and firemen retirement system, municipal employees retirement system, or county retirement system may use not more than 1/2 of the interest earned by any reserve fund in the system to contract for medical, hospital, or nursing care for any person receiving benefits of the system. As used in this section, “reserve fund” means the money contributed by the city, village, township, or county.
Enacting section 1. This amendatory act does not take effect unless Senate Bill No. 686 of the 99th Legislature is enacted into law.
This act is ordered to take immediate effect.
Secretary of the Senate
Clerk of the House of Representatives
Approved
Governor
