A BILL TO BE ENTITLED
AN ACT appropriating funds for establishing the north carolina state retirees health benefits trust fund.
The General Assembly of North Carolina enacts:
SECTION 1.  There is established in the Office of State Budget and Management the North Carolina State Retirees Health Benefits Trust Fund (Fund). The purpose of the Fund is to provide supplemental funding for retiree health benefits in the event of a shortfall in funds received in the future to maintain health benefits for retirees.
SECTION 2.  There is appropriated from the General Fund to the North Carolina State Retirees Health Benefits Trust Fund established in the Office of State Budget and Management the sum of two hundred fifty million dollars ($250,000,000) for the 2007‑2008 fiscal year to be used to supplement the rising costs of health benefits for State retirees and their dependents covered under the  Teachers' and State Employees' Comprehensive Major Medical Plan. These funds shall not revert.
SECTION 3.  This act becomes effective July 1, 2007.