(at the request of House Interim Committee on Rules)
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Regular Sponsors:
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Bill Title:
Relating to payments made under Public Employees Retirement System that are not subject to Oregon income tax; and declaring an emergency.
Catchline/Summary:
Prohibits Public Employees Retirement Board from paying certain increased benefits by reason of state income taxation of payments made by board if person receiving payments does not pay Oregon income tax on retirement benefits. Prohibits Public Employees Retirement Board from paying certain increased benefits by reason of state income taxation of payments made by board if person receiving payments does not pay Oregon income tax on retirement benefits. Provides procedures for enforcing prohibition.
Imposes similar prohibition for certain public employers that provide retirement benefits for police officers and firefighters other than by participation in Public Employees Retirement System. Excludes recipients whose effective date of retirement is before, or who otherwise began receiving payments before, January 1, 2012.
Provides for expedited review by Supreme Court upon petition by adversely affected party.
Increases, for biennium beginning July 1, 2011, limitation on expenditures from fees, moneys or other revenues, including Miscellaneous Receipts, but excluding lottery funds and federal funds, collected or received by Public Employees Retirement System.
Declares emergency, effective on passage.
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HB 2456
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