Oklahoma § 62-3107 - Retirement bills having fiscal impact - Procedure Amendments

§ 62-3107. Retirement bills having fiscal impact - Procedure Amendments

A. 1. Except as otherwise provided in this subsection, any

retirement bill having a fiscal impact may be introduced according

to the applicable deadlines established by the House of

Representatives or Senate only in any odd-numbered year during the

regular session. Any such retirement bill may be passed by the

Legislature only during an even-numbered year of the regular

session. Any retirement bill determined by the Legislative Actuary

in an even-numbered year to be a fiscal retirement bill may be

introduced in an even-numbered year, but shall not be considered by

the Legislature.

2. Notwithstanding the provisions of paragraph 1 of this

subsection, any retirement bill having a fiscal impact may be

introduced, considered and enacted in any year of a regular session

of the Legislature if such retirement bill is introduced solely for

the purpose of an unforeseen or emergency situation that needs to be

addressed immediately. Such retirement bill shall only be

considered if three-fourths (3/4) of the membership of each House

votes to allow the retirement bill to be considered. Such

retirement bill shall be subject to an actuarial investigation by

the Legislature Actuary in the year the bill is introduced and

considered and shall require concurrent funding, if applicable.

B. When a retirement bill having a fiscal impact is introduced,

it shall be assigned to the respective Senate or House of

Representatives standing committee or subcommittee that is primarily

responsible for the consideration of retirement legislation. If a

majority of the total membership of such committee is opposed to the

bill on its merits, no actuarial investigation provided for in

Section 3109 of this title shall be necessary, and the bill shall

not be reported out by the committee and shall not be adopted or

considered by the House of Representatives or the Senate. If a

majority of the committee wishes to consider the bill further and

votes in favor of an actuarial investigation of the bill, an

actuarial investigation shall be required as provided in Section

3109 of this title. Except as otherwise provided by subsection C of

this section, no retirement bill having a fiscal impact may be

reported out of the committee to which it is assigned or may be

considered or adopted by the House of Representatives or the Senate

unless an actuarial investigation of the bill is made.

C. The committee to which a retirement bill having a fiscal

impact is assigned following its introduction may amend the bill to

Oklahoma Statutes - Title 62. Public Finance

become a nonfiscal retirement bill. If the bill is so amended, an

exact copy of the amended version shall be submitted by the chair of

the committee to the Legislative Actuary. If the Legislative

Actuary issues a written certification that the committee amendment

has converted the status of the bill to a nonfiscal retirement bill,

the bill shall be a nonfiscal retirement bill for all purposes under

the provisions of this act as of the date of the certification of

the Legislative Actuary. Only the committee to which a retirement

bill having a fiscal impact is originally assigned following its

introduction may convert the bill to a nonfiscal retirement bill as

authorized in this subsection.

Added by Laws 2006, c. 292, § 7, eff. July 1, 2006. Amended by Laws

2007, c. 367, § 8, eff. July 1, 2007.