ARIZONA STATE SENATE
Phoenix, Arizona
Increases the limit for
publicly funded life insurance for county employees and elected officials and
decreases the number of persons required to serve on a board of trustees for a
life insurance risk retention pool.
Current statute allows a
county board of supervisors to adopt a system of insurance for county elected
officials and employees and to use public funds to finance the system. Statute limits the amount of public funds
that can be spent for life insurance to the lesser of $40,000 or the annual
salary of the official or employee.
H.B. 2494 increases the
limit to publicly funded life insurance to the greater of $50,000 or the annual
salary of the official or employee.
There is undetermined fiscal
impact associated with this bill.
1. Increases, from the lesser of $40,000 or the employee or official’s annual salary to the greater of $50,000 or the employee or official’s annual salary, the limit for publicly funded life insurance for county elected officials and employees.
2. Decreases, from five to three, the number of elected officials or employees required to serve on a board of trustees for a life insurance risk retention pool.
3. Makes technical changes.
4. Provides for a general effective date.
CM 1/25/00 DP 6-0
3rd Read 2/23/00 DP 49-4-7
Prepared by Senate Staff
March 2, 2000