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House approves substitute to raise COLA for certain public-safety retirees by reallocating insurance-premium revenue
Summary
The House passed first substitute House Bill 240 on Feb. 14, 2006, reallocating portions of existing motor-vehicle insurance premium tax revenue to the public-safety retirement fund to support a higher cost-of-living adjustment. Debate focused on fiscal impact (estimated $9–10 million fiscal note), local government effects, and funding equity; the bill passed 69–6 and was referred to the Senate.
The Utah House approved a substitute version of House Bill 240 on Feb. 14, a measure intended to address inequities in annual cost-of-living adjustments (COLAs) for certain retired law-enforcement personnel by shifting existing premium-tax revenue into the public-safety retirement fund.
Representative David Clark, sponsor of the bill, told members the measure seeks to bring a remaining group of retired law-enforcement employees closer to the 4 percent COLA other groups…
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