Bill would use lapsed funds to preserve retiree health and life insurance

By Emmanuel T. Erediano
emmanuel@mvariety.com
Variety News Staff

 

REPRESENTATIVE Blas Jonathan Attao on Tuesday pre-filed House Bill 24-75, which proposes to authorize the Finance secretary to tap the $3.7 million in lapsed funds from the CNMI government’s FY 2025 budget to ensure that retirees’ group health and life insurance coverage will continue.

The measure, which also proposes allocating nearly $1 million for the government’s 25% obligation to the Public School System, will require legislative appropriation of these funds.

It seeks to allow Finance to utilize the $3,747,585 as follows:

1) $936,896.25 to the Public School System (25%).

2) $2,810,688.75 for the CNMI retirees’ group health and life insurance.

However, this authorization, the bill states, does not constitute a new appropriation and does not increase the FY 2026 budget ceiling.

On Nov. 18, 2025, Gov. David M. Apatang provided the Legislature with an update to his proposal to revise the FY 2026 budget, identifying $3.7 million in lapsed funds from the FY 2025 budget.

H.B. 24-75 states that “these revenues can be immediately applied toward urgent government priorities, including constitutional obligations and the protection of critical programs such as the group health and life insurance.”

The bill also notes that the CNMI Constitution mandates the government to fund PSS at 25% of all its general revenues. Consistent with this requirement, H.B. 24-75 allocates $936,896.25, representing 25% of the newly identified $3.7 million, to PSS for its FY 2026 operations.

 

Emmanuel “Arnold” Erediano has a bachelor of science degree in Journalism. He started his career as police beat reporter. Loves to cook. Eats death threats for breakfast.

Visited 71 times, 71 visit(s) today

Weekly Poll

Latest E-edition

Please login to access your e-Edition.

+