HB 2455 Summary

• Adds new subsection B, paragraph 3 to section 48-805 authorizing fire districts to lease, lease-purchase, or grant liens on property to pay amounts to the Public Safety Personnel Retirement System, pension prefunding plan investment accounts, and the Arizona Employers' Pension Prefunding Plan, and to create reserves for supplemental payments.

• Renumbers existing paragraphs 3-17 in section 48-805, subsection B as paragraphs 4-18 to accommodate the new pension liability financing authority.

• Updates section 9-955 to clarify that fire district pension boards may pay amounts to private fire protection companies' pension plans when the district procures services under section 48-805, subsection B, paragraph 9.

• Makes technical corrections throughout sections 9-955 and 48-805.02, including changing "which" to "that," "chairman" to "chairperson," and "paragraph" to "paragraphs" for grammatical consistency.

• Declares the act an emergency measure operative immediately.