Texas 2015 - 84th Regular

Texas House Bill HB1756 Compare Versions

Version 1 (Old)

Version 2 (New)

Old	New		Differences
1		-	By: Rodriguez of Travis, Workman, Israel H.B. No. 1756
2		-	(Senate Sponsor - Watson)
3		-	(In the Senate - Received from the House April 20, 2015;
4		-	April 30, 2015, read first time and referred to Committee on State
5		-	Affairs; May 8, 2015, reported favorably by the following vote:
6		-	Yeas 9, Nays 0; May 8, 2015, sent to printer.)
7		-	Click here to see the committee vote
	1	+	H.B. No. 1756
8	2
9	3
10		-	COMMITTEE VOTE
11		-	YeaNayAbsentPNV
12		-	HuffmanX
13		-	EllisX
14		-	BirdwellX
15		-	CreightonX
16		-	EstesX
17		-	FraserX
18		-	NelsonX
19		-	SchwertnerX
20		-	ZaffiriniX
21		-	A BILL TO BE ENTITLED
22	4		AN ACT
23	5		relating to the board of trustees of and distribution of certain
24	6		benefits by a retirement system for firefighters in certain
25	7		municipalities.
26	8		BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS:
27	9		SECTION 1. Section 2.03(b), Chapter 183 (S.B. 598), Acts of
28	10		the 64th Legislature, Regular Session, 1975 (Article 6243e.1,
29	11		Vernon's Texas Civil Statutes), is amended to read as follows:
30	12		(b) Between November 1 of each year and the first Monday in
31	13		January of the following year, the board of trustees shall hold an
32	14		election to elect one member of the board of trustees. If only one
33	15		firefighter or retiree is nominated for a position under Subsection
34	16		(c) of this section, instead of holding an election, the board of
35	17		trustees may appoint the sole nominated candidate at the first
36	18		board meeting in January. The board shall adopt procedures for the
37	19		appointment of a sole nominated candidate under this subsection. A
38	20		board member appointed under this subsection is considered elected
39	21		for purposes of this Act.
40	22		SECTION 2. Section 7.09, Chapter 183 (S.B. 598), Acts of the
41	23		64th Legislature, Regular Session, 1975 (Article 6243e.1, Vernon's
42	24		Texas Civil Statutes), is amended by adding Subsection (d) to read
43	25		as follows:
44	26		(d) The board of trustees may adopt rules to establish
45	27		procedures for and requirements governing a member's designation of
46	28		a beneficiary under this section.
47	29		SECTION 3. Section 8.05, Chapter 183 (S.B. 598), Acts of the
48	30		64th Legislature, Regular Session, 1975 (Article 6243e.1, Vernon's
49	31		Texas Civil Statutes), is amended by adding Subsection (d) to read
50	32		as follows:
51	33		(d) The board of trustees may adopt rules that modify the
52	34		availability of distributions under Subsection (a) of this section,
53	35		provided that the modifications do not:
54	36		(1) impair the distribution rights under that
55	37		subsection; or
56	38		(2) cause distributions to occur later than required
57	39		under Section 401(a)(9), Internal Revenue Code of 1986.
58	40		SECTION 4. Sections 8.07(b), (c), and (d), Chapter 183
59	41		(S.B. 598), Acts of the 64th Legislature, Regular Session, 1975
60	42		(Article 6243e.1, Vernon's Texas Civil Statutes), are amended to
61	43		read as follows:
62	44		(b) If a member who participates in the DROP dies before
63	45		distribution of the member's entire DROP account [while in active
64	46		service or if the member has not filed an election with the board of
65	47		trustees as described by Subsection (c) of this section],
66	48		distributions to the designated beneficiary will begin not more
67	49		than one year after the date of the member's death and shall be made
68	50		either as a single-payment distribution of the member's DROP
69	51		account balance or in not more than four equal annual installments
70	52		over a period of not more than 37 months.
71	53		(c) [If a member who participates in the DROP dies after
72	54		terminating active service and has filed an election with the board
73	55		of trustees to be paid in not more than four equal annual
74	56		installments over a period of not more than 37 months, the balance
75	57		of the member's DROP account shall be distributed to the designated
76	58		beneficiary in the manner that the member selected.
77	59		[(d)] If the member has not designated a beneficiary to
78	60		receive distributions from the member's DROP account or if the
79	61		person so designated does not survive the member by at least 72
80	62		hours, the member's DROP account shall be distributed in a
81	63		single-sum payment as soon as administratively possible after the
82	64		member's death to any surviving spouse who survives the member by at
83	65		least 72 hours, if any, or to the member's estate if there is no
84	66		surviving spouse.
85	67		SECTION 5. Section 9.04(a-2), Chapter 183 (S.B. 598), Acts
86	68		of the 64th Legislature, Regular Session, 1975 (Article 6243e.1,
87	69		Vernon's Texas Civil Statutes), is amended to read as follows:
88	70		(a-2) The collective adjustment amount described by
89	71		Subsection (a-1) of this section:
90	72		(1) is an amount equal to the actuarial value, as
91	73		determined by the board's actuary based on the interest and
92	74		mortality assumptions adopted by the board of trustees for the most
93	75		recent actuarial valuation of the fund, of the percentage increase
94	76		in the Consumer Price Index for All Urban Consumers as determined by
95	77		the United States Department of Labor for the applicable
96	78		determination period ending in a calendar month that precedes by
97	79		not more than four months the month in which [immediately preceding
98	80		the date] the cost-of-living adjustment is to take effect,
99	81		multiplied by the total amount of benefits payable in the month
100	82		immediately preceding the date an adjustment is to take effect to
101	83		persons who are eligible to receive an adjustment under this
102	84		section; and
103	85		(2) if applicable:
104	86		(A) is reduced by an amount that the board's
105	87		actuary determines is necessary to maintain the financial stability
106	88		of the fund; or
107	89		(B) is increased in accordance with Subsection
108	90		(b) of this section.
109	91		SECTION 6. The board of trustees of a retirement system
110	92		subject to this Act shall adopt procedures required under Section
111	93		2.03(b), Chapter 183 (S.B. 598), Acts of the 64th Legislature,
112	94		Regular Session, 1975 (Article 6243e.1, Vernon's Texas Civil
113	95		Statutes), as amended by this Act, before a sole nominated
114	96		candidate may be appointed to the board of trustees.
115	97		SECTION 7. This Act takes effect September 1, 2015.
116		-	* * * * *
	98	+	______________________________ ______________________________
	99	+	President of the Senate Speaker of the House
	100	+	I certify that H.B. No. 1756 was passed by the House on April
	101	+	16, 2015, by the following vote: Yeas 146, Nays 0, 2 present, not
	102	+	voting.
	103	+	______________________________
	104	+	Chief Clerk of the House
	105	+	I certify that H.B. No. 1756 was passed by the Senate on May
	106	+	15, 2015, by the following vote: Yeas 31, Nays 0.
	107	+	______________________________
	108	+	Secretary of the Senate
	109	+	APPROVED: _____________________
	110	+	Date
	111	+	_____________________
	112	+	Governor