Texas 2023 - 88th Regular

Texas House Bill HJR2 Compare Versions

Version 1 (Old)

Version 2 (New)

Old	New		Differences
1		-	H.J.R. No. 2
	1	+	By: Bonnen, et al. (Senate Sponsor - Huffman) H.J.R. No. 2
	2	+	(In the Senate - Received from the House May 1, 2023;
	3	+	May 2, 2023, read first time and referred to Committee on Finance;
	4	+	May 19, 2023, reported adversely, with favorable Committee
	5	+	Substitute by the following vote: Yeas 17, Nays 0; May 19, 2023,
	6	+	sent to printer.)
	7	+	Click here to see the committee vote
	8	+	COMMITTEE SUBSTITUTE FOR H.J.R. No. 2 By: Huffman
2	9
3	10
4		-	A JOINT RESOLUTION
5		-	proposing a constitutional amendment authorizing the 88th
6		-	Legislature to provide a cost-of-living adjustment to certain
7		-	annuitants of the Teacher Retirement System of Texas.
	11	+	HOUSE JOINT RESOLUTION
	12	+	proposing a constitutional amendment limiting the authority of the
	13	+	legislature to provide cost-of-living adjustments or other benefit
	14	+	enhancements to certain annuitants of the Teacher Retirement System
	15	+	of Texas and providing a one-time transfer of funds to the
	16	+	retirement system to provide a cost-of-living adjustment.
8	17		BE IT RESOLVED BY THE LEGISLATURE OF THE STATE OF TEXAS:
9	18		SECTION 1. Article XVI, Texas Constitution, is amended by
10	19		adding Section 67-a to read as follows:
11		-	Sec. 67-a. (a) As the Teacher Retirement System of Texas is
12		-	actuarially sound according to an actuarial valuation update
13		-	performed in February 2023, the 88th Legislature, Regular Session,
14		-	2023:
15		-	(1) by general law may provide a cost-of-living
16		-	adjustment to annuitants of the Teacher Retirement System of Texas
17		-	who are eligible for the adjustment as determined by that general
18		-	law; and
19		-	(2) may appropriate an amount of money from the
20		-	general revenue fund to the comptroller of public accounts for
21		-	deposit to the trust fund of the Teacher Retirement System of Texas
22		-	to pay the adjustment authorized by Subdivision (1) of this
23		-	subsection.
24		-	(b) For purposes of Section 22, Article VIII, of this
25		-	constitution, an appropriation of state tax revenues made by the
26		-	88th Legislature, Regular Session, 2023, for the purpose described
27		-	by Subsection (a)(1) of this section is treated as if it were an
28		-	appropriation of revenues dedicated by this constitution.
29		-	(c) This section expires September 1, 2025.
30		-	SECTION 2. This proposed constitutional amendment shall be
	20	+	Sec. 67-a. (a) Only as authorized by this section, the
	21	+	legislature by general law may provide one or more cost-of-living
	22	+	adjustments or supplemental payments as benefit enhancements to
	23	+	annuitants of the Teacher Retirement System of Texas who are
	24	+	eligible for the enhancements, as determined by that law.
	25	+	(b) The legislature may provide a benefit enhancement as
	26	+	described by this section and, as necessary, direct the comptroller
	27	+	of public accounts to transfer funds to the Teacher Retirement
	28	+	System of Texas for the payment of the benefit enhancement only if:
	29	+	(1) the retirement system is actuarially sound, as
	30	+	determined by general law; and
	31	+	(2) subject to Subsection (c) of this section, the
	32	+	legislature appropriates money in an amount sufficient to ensure
	33	+	that providing the benefit enhancement does not increase the
	34	+	unfunded actuarial liabilities of the retirement system, as
	35	+	determined by the board of trustees of the retirement system.
	36	+	(c) In determining the amount that is sufficient to ensure
	37	+	that providing a benefit enhancement does not increase the unfunded
	38	+	actuarial liabilities of the Teacher Retirement System of Texas
	39	+	under Subsection (b)(2) of this section, the board of trustees of
	40	+	the retirement system shall reduce that amount by the amount by
	41	+	which the actuarial value of the retirement system's assets exceeds
	42	+	the actuarial accrued liability of the retirement system.
	43	+	SECTION 2. The following temporary provision is added to
	44	+	the Texas Constitution:
	45	+	TEMPORARY PROVISION. (a) This temporary provision applies
	46	+	to the constitutional amendment proposed by the 88th Legislature,
	47	+	Regular Session, 2023, limiting the authority of the legislature to
	48	+	provide cost-of-living adjustments or other benefit enhancements
	49	+	to certain annuitants of the Teacher Retirement System of Texas and
	50	+	providing a one-time transfer of funds to the retirement system to
	51	+	provide a cost-of-living adjustment.
	52	+	(b) As soon as practicable after the effective date of the
	53	+	amendment to which this temporary provision applies, the
	54	+	comptroller of public accounts shall transfer $3.323 billion from
	55	+	the general revenue fund to an account in the trust fund of the
	56	+	Teacher Retirement System of Texas established for that purpose.
	57	+	Money transferred to an account under this temporary provision may
	58	+	be spent by the retirement system only for the purpose of providing
	59	+	a cost-of-living adjustment of not less than two percent and not
	60	+	more than four percent of each eligible annuitant's annuity, as
	61	+	provided by general law. The transfer made under this temporary
	62	+	provision is not:
	63	+	(1) an appropriation of state tax revenues for the
	64	+	purposes of Section 22, Article VIII, of this constitution; or
	65	+	(2) a contribution by the state to the retirement
	66	+	system under Section 67(b)(3), Article XVI, of this constitution,
	67	+	or any other law.
	68	+	(c) This temporary provision expires on the earlier of:
	69	+	(1) the date all money transferred to an account in the
	70	+	trust fund of the Teacher Retirement System of Texas under this
	71	+	temporary provision has been expended; or
	72	+	(2) the date on which:
	73	+	(A) no annuitants who are eligible for the
	74	+	cost-of-living adjustment authorized under this temporary
	75	+	provision remain; and
	76	+	(B) any unexpended balance has been transferred
	77	+	to the general revenue fund under Subsection (d) of this temporary
	78	+	provision.
	79	+	(d) If no annuitants who are eligible for the cost-of-living
	80	+	adjustment authorized under this temporary provision remain, the
	81	+	board of trustees of the Teacher Retirement System of Texas shall
	82	+	notify the comptroller and the comptroller shall transfer any
	83	+	unexpended money to the general revenue fund.
	84	+	SECTION 3. This proposed constitutional amendment shall be
31	85		submitted to the voters at an election to be held November 7, 2023.
32	86		The ballot shall be printed to permit voting for or against the
33		-	proposition: "The constitutional amendment authorizing the 88th
34		-	Legislature to provide a cost-of-living adjustment to certain
35		-	annuitants of the Teacher Retirement System of Texas."
36		-	______________________________ ______________________________
37		-	President of the Senate Speaker of the House
38		-	I certify that H.J.R. No. 2 was passed by the House on April
39		-	28, 2023, by the following vote: Yeas 147, Nays 0, 1 present, not
40		-	voting; and that the House concurred in Senate amendments to H.J.R.
41		-	No. 2 on May 25, 2023, by the following vote: Yeas 140, Nays 0, 3
42		-	present, not voting.
43		-	______________________________
44		-	Chief Clerk of the House
45		-	I certify that H.J.R. No. 2 was passed by the Senate, with
46		-	amendments, on May 22, 2023, by the following vote: Yeas 31, Nays
47		-	0.
48		-	_______________________________
49		-	Secretary of the Senate
50		-	RECEIVED: _____________________
51		-	Date
52		-	_____________________
53		-	Secretary of State
	87	+	proposition: "The constitutional amendment limiting the authority
	88	+	of the legislature to provide cost-of-living adjustments or other
	89	+	benefit enhancements to certain annuitants of the Teacher
	90	+	Retirement System of Texas and providing a one-time transfer of
	91	+	funds to the retirement system to provide a cost-of-living
	92	+	adjustment."
	93	+	* * * * *