REFERENCE TITLE: pensions; unfunded liability; expenditure limits

State of Arizona Senate Fifty-fourth Legislature Second Regular Session 2020

SB 1280

Introduced by Senators Mesnard: Gray

 

AN ACT

 

Amending Title 38, chapter 5, Arizona Revised Statutes, by adding article 9; relating to public pension systems.

 

 

(TEXT OF BILL BEGINS ON NEXT PAGE)

 

Be it enacted by the Legislature of the State of Arizona:

Section 1.  Title 38, chapter 5, Arizona Revised Statutes, is amended by adding article 9, to read:

ARTICLE 9.  EMPLOYER CONTRIBUTIONS

START_STATUTE38-956.  Local jurisdictions; unfunded accrued liability

A city's, town's or county's unfunded accrued liability under articles 2, 3, 4 and 6 of this chapter shall be considered a long‑term obligation required by a contract pursuant to article IX, section 20, subsection 3, paragraph (d), subdivision (i), Constitution of Arizona. END_STATUTE