HB1317
To Amend Laws Concerning Fraud Against The Government To Include Fraud Against A State Supported Retirement System.
AI-Generated Summary
This bill proposes to amend existing Arkansas laws related to fraud against the government. Specifically, it aims to include fraud perpetrated against state-supported retirement systems within the scope of these laws. The bill modifies penalties for individuals who knowingly make false statements or falsify records when attempting to defraud these retirement systems. It designates such actions as a Class D felony. The legislation also mandates that notices about these penalties be included on forms used by retirement systems and disability determination departments. Furthermore, it clarifies the referral process for investigating and prosecuting such fraudulent activities. The bill specifies that when a state-supported retirement system identifies a violation, the Executive Director can refer the matter to the Attorney General or a specific prosecuting attorney. This expansion of fraud laws is intended to deter fraudulent claims, protect retirement benefits, and safeguard the assets of state-supported retirement systems. The bill declares an emergency, suggesting it is immediately necessary for public peace and safety.
Potential Impact Analysis
Who Might Benefit?
The primary beneficiaries of this bill would be the state-supported retirement systems in Arkansas and their members and beneficiaries. By strengthening penalties and clarifying prosecution procedures for fraud, the bill aims to protect the financial integrity of these systems and ensure that retirement benefits are not unjustly diverted. The state government, through its agencies responsible for overseeing these retirement systems, would also benefit from having enhanced tools to combat financial misconduct. The General Assembly is acting to preserve public peace and protect state assets, which could be seen as a broader public benefit.
Who Might Suffer?
The groups most directly and negatively impacted by this bill would be individuals who attempt to defraud state-supported retirement systems. This includes those who knowingly make false statements or falsify records to obtain benefits, wrongfully increase or decrease claims, or aid others in doing so. Such individuals would face enhanced legal consequences, including a Class D felony charge, which carries more severe penalties than some existing misdemeanor classifications. The bill's intent is to dissuade and punish such fraudulent behavior, thus creating a direct negative consequence for those engaging in it.