Update Posted February 07, 2014
2014 USG Legislation
HB 516 – The one time opt in/opt out provision for members of the Optional Retirement Plan (ORP). This passed the House Retirement Committee with only one no vote. Representative Christian Coomer (R-Cartersville) is the bill sponsor.
The legislation will:
• Allow current members of the ORP to have a one-time opportunity to opt-in to the Teachers Retirement System (TRS) plan.
• Allow a member to switch plans is he/she so chooses; he/she would solely assume the burden of cost.
• Give ORP members six months to make this decision.
• Not allow an individual to create any unfunded liability to the TRS, a key provision is that by choosing to switch to the TRS.
• Allow future ORP members to opt out of the plan by their sixth year of service with the USG.
• Allow the ORP member to opt in will and pay the value of the projected future benefits for their lifetime (according to TRS testimony in 2011). All financial burdens associated with this switch lie solely upon the employee wishing to make the election.
Marion Fedrick, vice chancellor for Human Resources, is the USG subject matter expert on this bill.
HB 788 – P3 Legislation. The legislation would provide an ad valorem tax exemption for USG property that is operated by a third party. The bill passed both the Ad Valorem Subcommittee of Ways & Means and the full Ways & Committee the afternoon of Thursday, Feb. 6. Rep. Lynne Riley (R-Johns Creek) is the bill sponsor.
This legislation will:
• Require a 2/3 passage in both the House and Senate and;
• A ballot referendum on the Nov. 2014 general election.
The legislation is needed in order to move forward with plans to create a new public private venture with private companies who would manage and construct residence halls for the USG.
Susan Ridley, associate vice chancellor for fiscal affairs, is the USG subject matter expert on this bill.
Legislation of interest to the USG relates to gun laws.
HB 875 – is the new piece of gun legislation that was introduced on the afternoon of Tuesday, Jan. 28. While the legislation as introduced does not include the University System, we will be monitoring it closely.
Posted by Sonja Roberts
Published in: Legislation