1.1                          A bill for an act 
  1.2             relating to retirement; amending police state aid 
  1.3             allocation method; appropriating money as 1996 police 
  1.4             state aid; ratifying the calculation of certain 1996 
  1.5             police state aid amounts; amending Minnesota Statutes 
  1.6             1996, section 69.021, subdivision 10. 
  1.7   BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF MINNESOTA: 
  1.8      Section 1.  Minnesota Statutes 1996, section 69.021, 
  1.9   subdivision 10, is amended to read: 
  1.10     Subd. 10.  [REDUCTION.] The commissioner of revenue shall 
  1.11  reduce the apportionment of police state aid under subdivisions 
  1.12  5, paragraph (b), 6, and 7, for eligible employer units by any 
  1.13  amount in excess of the employer's total prior calendar year 
  1.14  obligation under section sections 353.65 and 423A.02, as 
  1.15  certified by the executive director of the public employees 
  1.16  retirement association and the affected municipality.  The total 
  1.17  shall be deposited in a separate excess police state-aid account 
  1.18  in the general fund, administered and distributed as provided in 
  1.19  subdivision 11. 
  1.20     Sec. 2.  [PAYMENT OF CERTAIN OMITTED POLICE STATE AID 
  1.21  AMOUNTS.] 
  1.22     (a) The legislature determines that certain police state 
  1.23  aid recipients received less police state aid in September 1996 
  1.24  than was intended by virtue of drafting deficiencies in Laws 
  1.25  1996, chapter 390, sections 26 to 30. 
  1.26     (b) There is hereby appropriated as 1996 police state aid 
  2.1   the following amounts to the following governmental entities, 
  2.2   plus interest on the applicable amount as provided in paragraph 
  2.3   (c): 
  2.4       Governmental                     Additional 1996 Police 
  2.5         Entity                            State Aid Amount  
  2.6     (1) Brainerd                            $   45,669  
  2.7     (2) Crookston                               52,728  
  2.8     (3) Fairmont                                57,775  
  2.9     (4) Faribault                               28,224  
  2.10    (5) Mankato                                  3,509  
  2.11    (6) Metropolitan airports commission        30,541  
  2.12    (7) Minneapolis                          1,918,185  
  2.13    (8) South St. Paul                          32,377  
  2.14     (c) Interest is payable for the period October 1, 1996, to 
  2.15  the last day of the full calendar month occurring immediately 
  2.16  before the effective date specified in section 3 on the amount 
  2.17  specified in paragraph (b) in the larger of the following two 
  2.18  amounts: 
  2.19     (1) the total time-weighted rate of return, calculated as 
  2.20  required under Minnesota Statutes 1996, section 356.218, 
  2.21  actually earned by the police pension fund applicable to the 
  2.22  municipalities enumerated as paragraph (b), clauses (1) to (5), 
  2.23  (7), and (8), or by the Minneapolis employees retirement fund 
  2.24  for the governmental entity enumerated as paragraph (b), clause 
  2.25  (6), for the period October 1, 1996, to the last day of the full 
  2.26  calendar month occurring immediately before the effective date 
  2.27  specified in section 3; or 
  2.28     (2) one percent per month, multiplied by the number of 
  2.29  months that have elapsed during the period October 1, 1996, to 
  2.30  the last day of the full calendar month occurring immediately 
  2.31  before the effective date specified in section 3. 
  2.32     (d) The amounts paid under paragraphs (b) and (c) are 
  2.33  subject to the provisions of Minnesota Statutes, section 69.031, 
  2.34  subdivision 1. 
  2.35     (e) For purposes of the actuarial valuation of police 
  2.36  relief associations as of December 31, 1996, and for purposes of 
  3.1   the calculation of the annual financial requirements of the 
  3.2   police relief association under Minnesota Statutes, section 
  3.3   69.77, the amounts specified in paragraph (b) shall be treated 
  3.4   as assets of the relief association as of that date. 
  3.5      (f) Amounts paid as police state aid in September 1996, to 
  3.6   the following municipalities are hereby ratified as the intended 
  3.7   1996 police state aid payment amounts: 
  3.8     (1) Albert Lea; 
  3.9     (2) Anoka; 
  3.10    (3) Austin; 
  3.11    (4) Bloomington; 
  3.12    (5) Buhl; 
  3.13    (6) Chisholm; 
  3.14    (7) Columbia Heights; 
  3.15    (8) Crystal; 
  3.16    (9) Duluth; 
  3.17    (10) Fridley; 
  3.18    (11) Hibbing; 
  3.19    (12) New Ulm;  
  3.20    (13) Red Wing; 
  3.21    (14) Richfield; 
  3.22    (15) Rochester; 
  3.23    (16) St. Louis Park; 
  3.24    (17) St. Paul; 
  3.25    (18) West St. Paul; and 
  3.26    (19) Winona. 
  3.27     Sec. 3.  [EFFECTIVE DATE.] 
  3.28     Sections 1 and 2 are effective the day following final 
  3.29  enactment.