Bill Summary for H 276 (2015-2016)

Summary date: 

Jul 15 2015

Bill Information:

View NCGA Bill Details2015-2016 Session
House Bill 276 (Public) Filed Wednesday, March 18, 2015
Intro. by S. Ross, Gill, Goodman, McNeill.

View: All Summaries for BillTracking:

Bill summary

Senate committee substitute makes the following changes to the 3rd edition.

Amends GS 135-5.3 to clarify that the Board of Trustees must notify a charter school in writing no less than 90 days before revoking the school's provisional entry in the Teachers' and State Employees' Retirement System.

Adds a new section amending GS 135-4(jj) (applicable to the Retirement System for Teachers and State Employees) and GS 128-26(y) (applicable to the Retirement System for Counties, Cities and Towns), concerning the contribution-based benefit cap purchase provision, to allow an employer of a member who became a member before January 1, 2015, or who has not earned at least five years of membership service in the retirement system after that date to pay the lump sum amount on an installment payment plan. Sets out additional requirements for the payments.

Makes additional clarifying changes.

Changes the act's effective date to make Sections 5 (amending GS 128-21), 6 (amending GS 128-26(a)), and 7 (amending GS 135-4(jj) and GS 128-26(y)) of the act effective when the act becomes law (was, January 1, 2016).

© 2022 School of Government The University of North Carolina at Chapel Hill

This work is copyrighted and subject to "fair use" as permitted by federal copyright law. No portion of this publication may be reproduced or transmitted in any form or by any means without the express written permission of the publisher. Distribution by third parties is prohibited. Prohibited distribution includes, but is not limited to, posting, e-mailing, faxing, archiving in a public database, installing on intranets or servers, and redistributing via a computer network or in printed form. Unauthorized use or reproduction may result in legal action against the unauthorized user.

Printer-friendly: Click to view