TO ALLOW THE ARKANSAS PUBLIC EMPLOYEES' RETIREMENT SYSTEM TO COLLECT AMOUNTS OF OVERPAYMENTS FOR DEBTS OWED TO A STATE SUPPORTED RETIREMENT SYSTEM ADMINISTERED BY THE ARKANSAS PUBLIC EMPLOYEES' RETIREMENT SYSTEM.

Fiscal Impact Statement Bill: HB1208 Bill Subtitle: TO ALLOW THE ARKANSAS PUBLIC EMPLOYEES' RETIREMENT SYSTEM TO COLLECT AMOUNTS OF OVERPAYMENTS FOR DEBTS OWED TO A STATE SUPPORTED RETIREMENT SYSTEM ADMINISTERED BY THE ARKANSAS PUBLIC EMPLOYEES' RETIREMENT SYSTEM. --------------------------------------------------------------------------------------------------------------------------------------- Sponsors: Rep. Warren and Sen. Gilmore Basic Change: HB1208 amends § 26-36-303(1)(A) to add the Arkansas Judicial Retirement System and the State Police Retirement System as claimant agencies who can offset a taxpayer's state income tax refund to satisfy a debt. The Arkansas Public Employees' Retirement System is already a claimant agency. HB1208 also amends § 26-36-303(2)(H) to allow a claimant agency to collect an overpayment of a monthly benefit or lump sum from a state retirement system administered by the Arkansas Public Employees' Retirement System. Fiscal Impact: None. Taxpayer Impact: A taxpayer’s income tax refund would be subject to potential offset if the taxpayer owes a debt to the Arkansas Judicial Retirement System or the State Police Retirement System. Resources Required: C