Budget & Taxes (Pensions)

This bill allocates state funding for the fiscal year 2027 to various General Government departments and agencies, including the Department of Administration, Capitol Commission, and multiple commissions and offices. It establishes specific budget amounts for personnel, operating expenses, capital outlays, and benefit payments across these entities, while also setting limits on the number of authorized full-time equivalent positions. The legislation includes provisions to transfer money between specific state funds, such as moving funds from the Permanent Building Fund to the Administration and Accounting Services Fund, and grants reappropriation authority for several existing funds. Additionally, the bill provides continuous appropriation authority for certain expenditures by the Military Division and Public Employee Retirement System, and requires accountability reports for tax collections and distributions.

This bill allocates $2,599,400 in state funds to Idaho's Public Employee Retirement System for fiscal year 2027, covering the period from July 1, 2026, through June 30, 2027. The money is divided between $2,227,300 for operating expenses and $372,100 for capital outlays, drawn from the PERSI Administrative Fund and PERSI Special Fund. The legislation declares an emergency to make the funding effective immediately upon passage, ensuring the retirement system has the necessary resources for its designated programs and expense classes during the upcoming fiscal year.

H 642 adjusts Idaho's public safety officer retirement benefits to ensure consistency between catastrophic injury and death benefits. It increases the lump-sum death benefit for surviving spouses or dependent children to $500,000 (matching the existing catastrophic injury benefit) and adds an annual pension of $75,000 for surviving spouses. The bill specifically affects surviving spouses and dependent children of police officers and firefighters who die in the line of duty due to catastrophic injuries. Benefits will be funded solely through public safety officers' pension contributions, with no tax on the payments. The legislation repeals outdated death benefit provisions and defines "catastrophic injury" through specific medical criteria.