16 November 2009

Guarded Optimism for "Huntington Plan" Bill

Legislation offering help to strapped city pension funds is the key item of this week's special session, and the absence of taxpayer dollars from its provisions should make the difference between passage and defeat, The Associated Press reports.

"Unlike drafts from earlier this year, the pending proposal does not tap insurance policy surcharge revenues for city pension fund relief," the article said. "Rural lawmakers had previously balked at providing such state aid."

Volunteer Fire Departments have also been eyeing that revenue source as they pursue pension-like benefits for members, and as a result have helped kill previous relief efforts.

"If there's no new funding in it, it will be fine,'' Sam Love, a former lawmaker who now lobbies for the volunteer departments, told AP. "If it's amended, I think it will kill the bill.''

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