Bill > HB2098

This bill addresses public retirement systems, specifically the Elected Officials' Retirement Plan (EORP), and makes several significant changes to how court fees and other revenues are distributed. The bill appropriates $604,013,100 from the budget stabilization fund to pay the unfunded accrued liability for the EORP and restructures how court fees will be allocated starting July 1, 2025. Key provisions include redirecting certain percentages of court fees from the EORP to a new distribution mechanism through the Department of Administration, establishing a repayment schedule for local governments to reimburse the state for pension liability payments, and reducing appropriations for various state agencies in fiscal year 2025-2026. The bill requires cities, towns, and counties to pay specific annual amounts to repay the state for pension liability from fiscal year 2024-2025, with amounts ranging from $14,800 for smaller entities like South Tucson to $11,995,200 for Maricopa County. The repayment period is set from June 30, 2025, through June 30, 2035, and local governments have the option to enter into an accelerated repayment agreement with the state treasurer. The bill is designated as an emergency measure, making it immediately operative.

Budget and Finance

https://apps.azleg.gov/BillStatus/BillOverview/81778