By Turner of Harris H.B. No. 1875
74R5473 GCH-F
A BILL TO BE ENTITLED
1-1 AN ACT
1-2 relating to cost-of-living increases paid to annuitants of
1-3 retirement systems for police officers in certain municipalities.
1-4 BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS:
1-5 SECTION 1. Section 24, Article 6243g-3, Revised Statutes, is
1-6 amended to read as follows:
1-7 Sec. 24. Adjustment of benefits. Beginning September 1,
1-8 1995 <January 1, 1987>, a pension payable under this article may be
1-9 adjusted annually on April 1, <beginning in the year the member
1-10 attains age 55, or in the case of disability and survivor's
1-11 pensions, beginning in the year next following 12 months of
1-12 payments,> in accordance with two-thirds (2/3) of the percentage
1-13 changes in the Consumer Price Index for All Urban Consumers, but
1-14 not below the original pension amount. The annual adjustment under
1-15 this section shall never be less than two and one-half percent
1-16 (2.5%) compounded and shall never be more than eight percent (8%)
1-17 <not> compounded, notwithstanding a greater or lesser increase in
1-18 the consumer price index.
1-19 SECTION 2. The importance of this legislation and the
1-20 crowded condition of the calendars in both houses create an
1-21 emergency and an imperative public necessity that the
1-22 constitutional rule requiring bills to be read on three several
1-23 days in each house be suspended, and this rule is hereby suspended.