HB6163 - Pension Benefit Increase Note Act

• Creates the Pension Benefit Increase Note Act requiring the Division of Insurance within the Department of Financial and Professional Regulation to prepare written notes on any bill proposing a pension benefit increase.

• Bills proposing pension benefit increases must be held on second reading until the Department prepares a note within 7 calendar days of receiving the bill from the Clerk of the House or Secretary of the Senate.

• Pension benefit increase notes must simply state whether or not the bill proposes to grant a pension benefit increase and shall be distributed to legislative leaders, committee chairs, bill sponsors, and other specified recipients.

• Allows Department employees to appear before legislative committees to support or oppose bills with pension benefit increase notes, and requires new or revised notes if bills are amended to include pension benefit increases.

• Requires strict confidentiality of bill subjects submitted for pension benefit increase notes prior to introduction in the General Assembly, with the act taking effect immediately upon becoming law.