Retired police to present tax plan | Arkansas Blog

Tuesday, August 2, 2011

Retired police to present tax plan

Posted By on Tue, Aug 2, 2011 at 3:34 PM

HENSLEY: At City Hall earlier today.
Farris Hensley and other members of the Little Rock Police Pension Board will submit their own proposal for a city sales tax tonight at the City Board meeting. The board's Public Safety Sales Tax Initiative proposes a half-cent that would, among other things, add $1 million each to the Police and Fire Pension plans. That figure, the board says, is "less than half of one percent of the savings proposed for the citizens of Little Rock in this sales tax initiative and will NOT increase any existing pension benefits but will only help stabilize" the fund. None of the half cent would go to Public Works, Parks and Recreation or economic development.

Hensley said board member and City Manager Bruce Moore had "intentionally stalled" the board on presenting a plan to the City Board earlier, before a decision had been made on the proposal to be voted on in September.

The city's 1 cent tax proposal would allocate $500,000 to the pension board, an amount Hensley said is not enough to keep the fund from defaulting in the future.

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