RES 781 Draft 01 2018-2020 - Laserfiche WebLink

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• B • • 1 the fund shall not be subject to appropriation for any other purpose and shall not be subject to 2 claims by creditors of the employers or the board or plan administrator. The board's powers under 3 section 87A-24 shall also apply to the fund established pursuant to this section. Notwithstanding 4 any law to the contrary. once the separate accounts for each public employer within the separate 5 trust fund have a combined balance of at least $2,000,000,00Q, any earnings from the 6 2 000 000 000 remai : ', e se.ar. e trust fu a a - -,a a - ,c i cal ea hall a e 7 transferred to the separate public employer accounts within the rate stabilization reserve fund 8 established in section 87A- . Unless otherwise specified by law, the $2,000,000,000 and the 9 separate trust fund shall not be subject to appropriation for any purpose and shall not be subject to 10 claims by creditors of employers or the board." 11 2. By amending subsection (d)to read: 12 "(d) In any fiscal year in which a county public employer's contributions into the fund are 13 less than the amount of the annual required contribution, the amount that represents the excess of 14 the annual required contribution over the county public employer's contributions shall be deposited 15 into the applicable fund pursuant to this section from a portion of all transient accommodations tax 16 revenues collected by the department of taxation under section 237D-6.5(b)(4). The director of 17 finance shall deduct the amount necessary to meet the county public employer's annual required 18 contribution from the revenues derived under section 237D-6.5(b)(4) and transfer the amount to 19 the board for deposit into the appropriate account of the separate trust fund." 20 3. By amending subsection (f)to read: 9