Florida Senate - 2011                        COMMITTEE AMENDMENT
       Bill No. SB 1128
                                Barcode 632960                          
                              LEGISLATIVE ACTION                        
                    Senate             .             House              

       The Committee on Governmental Oversight and Accountability
       (Fasano) recommended the following:
    1         Senate Amendment to Amendment (762940) 
    3         Delete lines 148 - 185
    4  and insert:
    5  forth in this chapter, the board of trustees of the pension
    6  plan, as approved by a majority of firefighters of the
    7  municipality, may:
    8         (a) Place the income from the premium tax in s. 175.101 in
    9  such pension plan for the sole and exclusive use of its
   10  firefighters, or for firefighters and police officers if, where
   11  included, where it shall become an integral part of that pension
   12  plan and shall be used to pay extra benefits to the firefighters
   13  included in that pension plan; or
   14         (b) Place the income from the premium tax in s. 175.101 in
   15  a separate supplemental plan to pay extra benefits to
   16  firefighters, or to firefighters and police officers if where
   17  included, participating in such separate supplemental plan.
   18         (2) The premium tax provided by this chapter shall in all
   19  cases be used in its entirety to provide retirement extra
   20  benefits to firefighters, or to firefighters and police officers
   21  if, where included. However, local law plans in effect on
   22  October 1, 1998, must shall be required to comply with the
   23  minimum benefit provisions of this chapter only to the extent
   24  that additional premium tax revenues become available to
   25  incrementally fund the cost of such compliance as provided in s.
   26  175.162(2)(a). If When a plan is in compliance with such minimum
   27  benefit provisions, as subsequent additional premium tax
   28  revenues become available, they must shall be used to provide
   29  extra benefits, except as provided in subsection (1). For the
   30  purpose of this chapter, “additional premium tax revenues” means
   31  revenues received by a municipality or special fire control
   32  district pursuant to s. 175.121 which exceed that amount
   33  received for calendar year 1997, and the term “extra benefits”
   34  means benefits in addition to or greater than those provided to
   35  general employees of the municipality and in addition to those
   36  in existence for firefighters on March 12, 1999. Local law plans
   37  created by special act before May 23, 1939, shall be deemed to
   38  comply with this chapter. Notwithstanding any other provisions
   39  of this section, if less than 80 percent of the plan’s actuarial
   40  accrued liability is fully funded as of March 1, 2011, 50
   41  percent of the accumulated excess premium tax revenues that are
   42  not being used to fund the adjusted base amount or extra
   43  benefits may be used one time only to pay the unfunded actuarial
   44  accrued liabilities of the plan; however, such one-time use must
   45  occur on or before September 30, 2011.