2007 House Bill 4766 / Public Act 22

Balance budget with reduced pension fund contribution

Introduced in the House

May 16, 2007

Introduced by Rep. Lee Gonzales (D-49)

To change definitions in the school and state employees pension law so as to allow a one-time pension contribution that is less than the true actuarially sound amount under generally accepted accounting principles. The bill is one of several that are part of bipartisan plans to close a gap between desired spending and expected revenues in the Fiscal Year 2006-2007 budget.

Referred to the Committee on Appropriations

May 17, 2007

Reported without amendment

Without amendment and with the recommendation that the bill pass.

May 30, 2007

Passed in the House 74 to 35 (details)

Received in the Senate

May 31, 2007

Referred to the Committee on Appropriations

June 12, 2007

Reported without amendment

With the recommendation that the bill pass.

June 14, 2007

Passed in the Senate 37 to 0 (details)

To change definitions in the school and state employees pension law so as to allow a one-time pension contribution that is less than the true actuarially sound amount under generally accepted accounting principles. The bill is one of several that are part of bipartisan plans to close a gap between desired spending and expected revenues in the Fiscal Year 2006-2007 budget.

Signed by Gov. Jennifer Granholm

June 26, 2007