Bill
HB 3127
Overview: HB 3127, "To fund the Deputy Sheriff's Retirement Fund from the DMV in the form of a 50-cent payment from every registration sold/renewed in the state", has been referred
Overview: HB 3127, "To fund the Deputy Sheriff's Retirement Fund from the DMV in the form of a 50-cent payment from every registration sold/renewed in the state", has been referred to the House Finance Committee.
Purpose and Intent: The primary goal of this bill is to provide a dedicated funding source for the Deputy Sheriff's Retirement Fund. By requiring a 50-cent payment from every vehicle registration sold or renewed in the state, the bill aims to ensure the long-term financial stability of the retirement fund and support the retirement benefits of deputy sheriffs.
Key Provisions:
- Establishes a 50-cent fee to be collected from every vehicle registration sold or renewed in the state
- Directs the revenue from this fee to be deposited into the Deputy Sheriff's Retirement Fund
- Requires the Department of Motor Vehicles (DMV) to collect and transfer the funds to the retirement fund
Affected Parties and Impacts:
- Vehicle owners in the state will be required to pay the additional 50-cent fee when registering or renewing their vehicles
- The Deputy Sheriff's Retirement Fund will receive a stable and dedicated funding source, which will help ensure the financial security of the retirement benefits for deputy sheriffs
- The DMV will be responsible for collecting and transferring the funds to the retirement fund
Procedural and Timeline Considerations:
The bill has been referred to the House Finance Committee for further consideration. If the committee approves the bill, it will then move to a full vote in the House. If passed by the House, the bill will then proceed to the Senate for their review and approval.
Compiled from official sources — confirm details with the bill’s official record.
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