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AR HB1303
Bill
Status
4/4/2023
Primary Sponsor
Carlton Wing
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AI Summary
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Replaces specific municipality classifications with the term "municipality" in Arkansas Code § 14-42-116 to clarify retirement benefit restrictions for governing body members.
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Prohibits municipalities from establishing new retirement benefit systems or plans for governing body members, except those that had established systems prior to July 3, 1989.
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Allows all retirement systems and plans that existed on or before July 3, 1989 to continue operating.
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Grants cities of the first class the authority to amend, repeal, or reinstate existing retirement systems or plans through ordinance.
Legislative Description
To Amend The Law To Clarify Which Municipalities May Establish Retirement Benefits For Municipal Governing Bodies.
Last Action
Notification that HB1303 is now Act 437
4/4/2023