2015 House Bill 4529

Authorize local “pension obligation bonds”

Introduced in the House

April 28, 2015

Introduced by Rep. Larry Inman (R-104)

To make permanent a law passed in 2012 to allow local governments to borrow money to cover unfunded employee pension liabilities, which is allowed if the local has closed its traditional “defined benefit” pension system to new employees. Under current law this permission will expire on Dec. 31, 2015.

Referred to the Committee on Financial Liability Reform