hb568_LC_21_8191_a_2.html
05 LC 21 8191
House Bill 568
By: Representatives Coleman of the 97th, Bridges of the 10th, Jones of the 46th, Casas of the 103rd, and Maxwell of the 17th

A BILL TO BE ENTITLED
AN ACT

To amend Article 5 of Chapter 3 of Title 47 of the Official Code of Georgia Annotated, relating to service credit toward retirement benefits in the Teachers Retirement System of Georgia, so as to provide that the State Board of Education is authorized to identify certain qualified teachers and grant to such teachers up to one year of creditable service after teaching in an underperforming school for five consecutive years; to provide for notification and payment of funds; to provide conditions for an effective date and automatic repeal; to repeal conflicting laws; and for other purposes.

BE IT ENACTED BY THE GENERAL ASSEMBLY OF GEORGIA:

SECTION 1.
Article 5 of Chapter 3 of Title 47 of the Official Code of Georgia Annotated, relating to service credit toward retirement benefits in the Teachers Retirement System of Georgia, is amended by inserting at the end thereof a new Code section to read as follows:
"47-3-96.
(a) The State Board of Education is authorized to identify certain qualified teachers and grant to such teachers up to one year of creditable service after teaching in an underperforming school for five consecutive years.
(b) As a condition for granting the creditable service provided for in subsection (a) of this Code section, the State Board of Education shall notify the board of trustees of the name of such teacher and shall pay to this retirement system, from funds appropriated to or otherwise available to the State Board of Education, such amount as determined by the actuary as necessary to grant such benefit to the teacher so identified without creating any actuarial accrued liability as to this retirement system; provided, however, that no such creditable service shall be granted until the board of trustees has received the full amount so determined."

SECTION 2.
This Act shall become effective on July 1, 2006, only if it is determined to have been concurrently funded as provided in Chapter 20 of Title 47 of the Official Code of Georgia Annotated, the "Public Retirement Systems Standards Law"; otherwise, this Act shall not become effective and shall be automatically repealed in its entirety on July 1, 2006, as required by subsection (a) of Code Section 47-20-50.

SECTION 3.
All laws and parts of laws in conflict with this Act are repealed.