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.