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IA HSB197
SB
Status
2/18/2025
Primary Sponsor
Public Safety
Click for details
AI Summary
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Authorizes municipalities (cities, counties, townships, benefited fire districts) to establish length of service award programs providing tax-deferred retirement benefits under IRC Section 457(e)(11) for volunteer firefighters, volunteer emergency medical care providers, and reserve peace officers
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Creates a length of service award program grant fund under the Department of Revenue, funded by $2 million annually from lottery revenues, with the amount increasing by $500,000 each time the fund is depleted for two consecutive years, capped at $5 million total
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Provides dollar-for-dollar matching grants to participating municipalities, up to $500 per program participant, with the director of revenue required to prorate payments if funds are insufficient to cover all eligible grants
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Requires municipalities establishing programs to adopt guidelines for eligibility, vesting requirements, and distribution rules in consultation with fire and police department leadership
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Takes effect January 1, 2026
Legislative Description
A bill for an act establishing length of service award programs for volunteer fire fighters, volunteer emergency medical care providers, and reserve peace officers, making appropriations, and including effective date provisions.(See HF 755, HF 1002.)
Last Action
Committee report approving bill, renumbered as HF 755.
3/5/2025