House Bill 594

AN ACT TO AMEND SECTION 43-13-407, MISSISSIPPI CODE OF 1972, TO PROVIDE THAT IN CALENDAR YEAR 2009, THE TOTAL AMOUNT OF THE TOBACCO SETTLEMENT INSTALLMENT PAYMENT RECEIVED BY THE STATE OF MISSISSIPPI SHALL BE DEPOSITED INTO THE HEALTH CARE EXPENDABLE FUND; TO PROVIDE THAT IN EACH SUCCEEDING CALENDAR YEAR, THE AMOUNT OF THE INSTALLMENT PAYMENT THAT IS PAID INTO THE EXPENDABLE FUND SHALL BE REDUCED BY AN ADDITIONAL $10,000,000.00 UNTIL THE CALENDAR YEAR THAT THE AMOUNT OF THE INSTALLMENT PAYMENT THAT OTHERWISE WOULD BE DEPOSITED INTO THE EXPENDABLE FUND IS LESS THAN THE FOUR-YEAR AVERAGE EARNINGS ON THE FUNDS IN THE HEALTH CARE TRUST FUND; TO PROVIDE THAT BEGINNING WITH THAT CALENDAR YEAR AND EACH CALENDAR YEAR THEREAFTER, NONE OF THE AMOUNT OF THE INSTALLMENT PAYMENT SHALL BE DEPOSITED INTO THE EXPENDABLE FUND, AND THE AMOUNT OF THE FOUR-YEAR AVERAGE EARNINGS ON THE FUNDS IN THE HEALTH CARE TRUST FUND SHALL BE TRANSFERRED FROM THE TRUST FUND TO THE EXPENDABLE FUND; TO AMEND SECTION 43-13-405, MISSISSIPPI CODE OF 1972, TO CREATE WITHIN THE HEALTH CARE TRUST FUND A SEPARATE TRUST ACCOUNT TO BE KNOWN AS THE STATE AND SCHOOL EMPLOYEES HEALTH INSURANCE TRUST, FOR THE PURPOSE OF RESERVING THE AMOUNT OF FUNDS NECESSARY TO MEET THE STATE'S LIABILITY FOR THE PAYMENT OF HEALTH INSURANCE BENEFITS FOR COVERED RETIREES AND THEIR COVERED DEPENDENTS; TO PROVIDE THAT IN FISCAL YEAR 2009 AND EACH FISCAL YEAR THEREAFTER, $20,300,000.00 IN THE HEALTH CARE TRUST FUND SHALL BE SET ASIDE AND PLACED IN THE HEALTH INSURANCE TRUST UNTIL THE AMOUNT IN THE HEALTH INSURANCE TRUST, TOGETHER WITH THE TOTAL AMOUNT OF THE HEALTH INSURANCE PREMIUMS PAID BY THE COVERED RETIREES, IS NOT LESS THAN THE AMOUNT OF THE STATE'S LIABILITY FOR THE PAYMENT OF HEALTH INSURANCE BENEFITS FOR COVERED RETIREES AND THEIR COVERED DEPENDENTS; TO PROVIDE THAT AFTER THAT TIME, NO ADDITIONAL AMOUNT FROM THE HEALTH CARE TRUST FUND SHALL BE SET ASIDE AND PLACED IN THE HEALTH INSURANCE TRUST; TO BRING FORWARD SECTION 43-13-409, MISSISSIPPI CODE OF 1972, WHICH ESTABLISHES A BOARD OF DIRECTORS TO INVEST THE FUNDS IN THE HEALTH CARE TRUST FUND AND THE HEALTH CARE EXPENDABLE FUND; AND FOR RELATED PURPOSES.

In the House of Representatives

• Johnny W. Stringer

  Sponsor

l9n doesn't hold this bill's text yet.

In the House of Representatives Jan 13 – Feb 3

1. Jan 13Referred to the House committee on Appropriations
2. Feb 3Died in committee in the House