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AR HB1119
Bill
Status
2/25/2025
Primary Sponsor
Les Warren
Click for details
AI Summary
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Political subdivisions become delinquent on payments or reporting to the Arkansas Local Police and Fire Retirement System within 5 calendar days of the due date, reduced from the previous 10-day grace period
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Delinquency certification must follow rules established by the Board of Trustees of the Arkansas Local Police and Fire Retirement System
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The Treasurer of State is authorized to withhold all state funds owed to delinquent political subdivisions until the delinquency plus regular interest is paid
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Administration of delinquent payments for municipal firemen's relief and pension funds and policemen's pension and relief funds transfers from the Arkansas Local Police and Fire Retirement System to the Department of Finance and Administration
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Effective date is July 1, 2025, to allow time for programming changes and educational notices to covered employers; approved February 25, 2025
Legislative Description
To Amend The Provisions Regarding Delinquent Payments By A Political Subdivision Under The Arkansas Local Police And Fire Retirement System; And To Declare An Emergency.
Last Action
Notification that HB1119 is now Act 152
2/25/2025