SENATE BILL NO. 48                                                                                                            
                                                                                                                                
     "An Act  requiring each municipality with  a population                                                                    
     that  decreased by  more than  25 percent  between 2000                                                                    
     and 2010 that participates  in the defined benefit plan                                                                    
     of the  Public Employees'  Retirement System  of Alaska                                                                    
     to  contribute to  the system  an amount  calculated by                                                                    
     applying a rate of 22 percent  of the total of all base                                                                    
     salaries paid  by the municipality to  employees of the                                                                    
     municipality  who  are  active members  of  the  system                                                                    
     during a payroll period; reducing  the rate of interest                                                                    
     payable  by  a  municipality  with  a  population  that                                                                    
     decreased  by more  than 25  percent  between 2000  and                                                                    
     2010 that  is delinquent  in transmitting  employee and                                                                    
     employer contributions  to the defined benefit  plan of                                                                    
     the  Public  Employees'  Retirement System  of  Alaska;                                                                    
     giving   retrospective   effect  to   the   substantive                                                                    
     provisions of  the Act; and providing  for an effective                                                                    
     date."                                                                                                                     
                                                                                                                                
SB 48 was SCHEDULED but not HEARD.