2001 REGULAR SESSION (71st)                                                                            A AB563 380

Amendment No. 380

 

Assembly Amendment to Assembly Bill No. 563                                                              (BDR 23‑1345)

Proposed by: Committee on Government Affairs

Amendment Box:

Resolves Conflicts with: N/A

Amends:         Summary:               Title:               Preamble:               Joint Sponsorship:

 

ASSEMBLY ACTION              Initial and Date              |SENATE ACTION                        Initial and Date

       Adopted       Lost                                               |          Adopted       Lost                                           

Concurred In                     Not                                                        |Concurred In  Not                                 

       Receded        Not                                               |         Receded        Not                                           

 

     Amend section 1, page 1, line 4, after “under” by inserting:

“the program, which may consist of one or more plans authorized by”.

     Amend section 1, page 1, line 5, by deleting “which,” and inserting:

“which[,] income,”.

     Amend sec. 2, page 1, line 12, by deleting “and as” and inserting:

“[andas] which may consist of one or more plans”.

     Amend sec. 2, page 1, line 16, after “approval.” by inserting:

“An employee may defer compensation under one or more plans in the program.”.

     Amend sec. 2, page 2, line 8, after “457(g),” by inserting “as applicable,”.

     Amend sec. 3, page 2, line 14, after “employer” by inserting:

“to a plan”.

     Amend sec. 3, page 2, line 16, by deleting “457.” and inserting:

“457 [.] , as applicable.”.

     Amend sec. 4, page 2, by deleting lines 18 through 20 and inserting:

     “287.350  1.  No plan in the program becomes effective and no deferral may be made until the [program] plan meets the requirements of 26 U.S.C. § 401(a), 401(k), 403(b) or 457 , as applicable, for eligibility.”.

     Amend sec. 5, page 2, line 26, after “under” by inserting:

“the program, which may consist of one or more plans authorized by”.

     Amend sec. 5, page 2, line 27, by deleting “which,” and inserting:

“which [,] income,”.

     Amend sec. 6, page 2, by deleting lines 33 and 34 and inserting:

“program approved by the committee [and as] which may consist of one or more plans authorized by 26 U.S.C. § 401(a) or 457. An employee may defer compensation under one or more plans in the program.”.

     Amend sec. 7, page 3, line 2, after “457(g),” by inserting “as applicable,”.

     Amend sec. 8, page 3, line 9, after “subdivision” by inserting:

“to a plan”.

     Amend sec, 8, page 3, line 10, by deleting “457.” and inserting:

“457 [.] , as applicable.”.

     Amend sec. 9, page 3, by deleting lines 12 through 14 and inserting:

     “287.460  1.  No plan in the program becomes effective and no deferral may be made until the [program] plan meets the requirements of 26 U.S.C. § 401(a) or 457 , as applicable, for eligibility.”.