HF 1357

Introduction - 80th Legislature (1997 - 1998)

Posted on 12/15/2009 12:00 a.m.

  1.1                          A bill for an act 
  1.2             relating to retirement; clarifying the source of funds 
  1.3             available to the Minneapolis police relief 
  1.4             association; amending Minnesota Statutes 1996, section 
  1.5             423B.06, subdivisions 1 and 1a. 
  1.6   BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF MINNESOTA: 
  1.7      Section 1.  Minnesota Statutes 1996, section 423B.06, 
  1.8   subdivision 1, is amended to read: 
  1.9      Subdivision 1.  [SOURCES.] The fund is derived from the 
  1.10  following sources: 
  1.11     (1) gifts provided to the fund; 
  1.12     (2) rewards received by active members; 
  1.13     (3) money coming into the hands of active members of the 
  1.14  Minneapolis police department in their official capacity and 
  1.15  remaining unclaimed for six months; 
  1.16     (4) proceeds from sales of property coming into the hands 
  1.17  of active members in their official capacity and remaining 
  1.18  unclaimed for six months, upon sale by the chief of police of 
  1.19  the city; 
  1.20     (5) an amount equal to the minimum percentage specified in 
  1.21  section 69.77, subdivision 2a, of the salary of a first grade 
  1.22  patrol officer deducted from the monthly salary of each active 
  1.23  member; 
  1.24     (6) all money derived from taxation as provided by sections 
  1.25  69.77, subdivisions 2b, 2c, 2d, 2e, and 2f; and 423A.01, 
  2.1   subdivision 2; 
  2.2      (7) all money received from the state amortization aid 
  2.3   programs under section 423A.02, to fund the unfunded actuarial 
  2.4   accrued liability of the association; 
  2.5      (8) all money received from the state under chapter 69, as 
  2.6   state police aid; 
  2.7      (9) all money provided by the state for the association in 
  2.8   addition to clauses (7) and (8); 
  2.9      (10) all money derived from taxation by the municipality 
  2.10  for the support of the association and the payment of pensions; 
  2.11  and 
  2.12     (11) money from the investment of, earnings on, and 
  2.13  interest on the assets of the fund. 
  2.14     Sec. 2.  Minnesota Statutes 1996, section 423B.06, 
  2.15  subdivision 1a, is amended to read: 
  2.16     Subd. 1a.  [SALES OF UNCLAIMED PROPERTY.] The chief of 
  2.17  police of the city shall sell property coming into the hands of 
  2.18  active members of the Minneapolis police department in their 
  2.19  official capacity and remaining unclaimed for six months.  
  2.20     Sec. 3.  [EFFECTIVE DATE.] 
  2.21     Sections 1 and 2 are effective the day following final 
  2.22  enactment.