SB419 HFA Sponaugle 2-23

Delegate Sponaugle moves to amend the HFIN AM on page 6, section 4, line 65, by striking out the period and subsection (g) in its entirety, inserting a colon, and the following proviso:

Provided, the tax shall be continued beginning the 2017 the assessment rates as determined by this article shall be deposited quarterly into the public employees insurance trust fund as provided in section eighteen, article sixteen, chapter five of this code until certification of the Governor to the Legislature that an independent actuary has determined that the fund will be solvent, with employee rates and deductibles at or exceeding those benefits received for the fiscal year 2015, and will solvent without the taxes established pursuant to this article, and the fund is fully funding for the upcoming fiscal year. Upon such certification, the taxes assessed pursuant to this article are expired.


On page 15, section 10d, line 55, following the period by inserting a new subdivision (C) to read as follows:

(C) Notwithstanding any code provision to the contrary, all taxes herein established shall be continued and deposited into the special fund established by the Public Employees Insurance Agency created pursuant to section eighteen, article sixteen, chapter five of this code on July 1, 2016.