Benefits consortium; governing bodies of three or more cities, counties, or school boards to form.

Benefits consortium for localities. Authorizes the governing bodies of three or more cities, counties, or school boards to form a benefits consortium for the purpose of establishing a self-funded employee welfare benefit plan. Under current law, such governing bodies or school boards are authorized to form such a benefits consortium if they comprised the membership of a multiple employer welfare arrangement as of December 31, 2014. Such a benefits consortium is required to be a nonstock corporation established to operate a benefits plan. Each member of the benefits consortium is contractually liable for its allocated share of the consortium's liabilities, and the benefits consortium is exempt from taxation and from insurance regulations.