The proposed bill would amend current statutes to establish the Public Safety Parity Fund (PSPF) aimed at providing retention pay and benefits for employees of the Department of Public Safety (DPS) and the State Department of Corrections (DOC). It would redirect investment earnings from the Budget Stabilization Fund (BSF) to the PSPF, while ensuring that the first $10,000,000 generated annually remains in the BSF. The PSPF would be administered by the DOC and would be subject to legislative appropriation. Additionally, starting June 30, 2027, the DOC would be required to deposit 40% of the PSPF's funds into the existing Parity Compensation Fund.

Furthermore, the bill would modify the existing Parity Compensation Fund to include retention pay and benefits for both DPS and DOC employees, in addition to salaries for law enforcement personnel. It would also allow for the provision of retention bonuses of up to 3% for department employees from the PSPF. The bill includes provisions for determining annual expenditures based on benchmarks from comparable personnel ranks in the state's largest county jails and private prisons, and mandates the distribution of PSPF funds on specific dates each year.

Statutes affected:
Introduced Version: 13-4315, 35-144, 41-1610.02, 41-1720, 13-2314.01, 35-146, 35-147, 13-2314.03, 13-4310, 35-313, 35-314.02, 35-190, 37-1305
House Engrossed Version: 35-144, 41-1610.02, 41-1720, 35-313, 35-314.02, 35-146, 35-147, 35-190, 37-1305