SB 2190, Sen 2nd Rdg, Amnd #F3

(1) In SECTION 1.01 of the bill, in added Section 1(13-c), Article 6243e.2(1), Revised Statutes (page 5, lines 29 and 30), strike "excluding the legacy liability,".

(2) In SECTION 1.06 of the bill, in added Section 3A(b)(1), Article 6243e.2(1), Revised Statutes (page 14, line 15), between "article" and the underlined semicolon, insert ", except and only to the extent necessary to comply with federal law".

(3) In SECTION 1.14 of the bill, in added Section 13B(h), Article 6243e.2(1), Revised Statutes (page 31, line 20), strike "(a)(2)" and substitute "(a)(4)".

(4) In SECTION 2.03 of the bill, in added Section 2(4-c), Article 6243g-4, Revised Statutes (page 50, lines 14 and 15), strike "excluding the legacy liability,".

(5) In SECTION 2.03 of the bill, in added Section 2(13-a)(B), Article 6243g-4, Revised Statutes (page 52, line 3), strike "March 31, 2018, in accordance with Section 9B(j)" and substitute "December 31, 2017, in accordance with Section 9B(j)(2)".

(6) In SECTION 2.11 of the bill, in added Section 9A(h), Article 6243g-4, Revised Statutes (page 70, line 28), strike "(a)(2)" and substitute "(a)(4)".

(7) In SECTION 2.11 of the bill, in added Section 9B(a)(1), Article 6243g-4, Revised Statutes (page 71, line 8), between "June 30, 2016" and the underlined semicolon, insert ", or, if actuarial data is not provided, on estimates of actuarial data".

(8) In SECTION 2.11 of the bill, in added Section 9B(d)(2), Article 6243g-4, Revised Statutes (page 73, line 12), strike "March 31, 2018, in accordance with Subsection (j)" and substitute "December 31, 2017, in accordance with Subsection (j)(2)".

(9) In SECTION 2.11 of the bill, strike added Section 9B(j)(2), Article 6243g-4, Revised Statutes (page 75, lines 4 through 15), and substitute the following:

(2) subject to Subsection (k) of this section, if the board rescinds benefit changes under Subdivision (1) of this subsection or pension obligation bond proceeds are not delivered on or before December 31, 2017, the initial risk sharing valuation study shall be prepared again and restated without assuming the delivery of the pension obligation bond proceeds, the later delivery of pension obligation bond proceeds, or the rescinded benefit changes, as applicable, and the resulting city contribution rate will become effective in the fiscal year following the completion of the restated initial risk sharing valuation study.

(10) In SECTION 2.29 of the bill, in added Section 27(c)(1), Article 6243g-4, Revised Statutes (page 125, line 17), between "article" and the underlined semicolon, insert ", except and only to the extent necessary to comply with federal law".

(11) In SECTION 3.01 of the bill, in added Section 1(11-g)(A)(ii), Chapter 88 (H.B. 1573), Acts of the 77th Legislature, Regular Session, 2001 (Article 6243h, Vernon's Texas Civil Statutes) (page 132, line 25), strike "March 31, 2018, in accordance with Section 8C(j)" and substitute "December 31, 2017, in accordance with Section 8C(j)(2)".

(12) In SECTION 3.05 of the bill, in added Section 3(o)(1), Chapter 88 (H.B. 1573), Acts of the 77th Legislature, Regular Session, 2001 (Article 6243h, Vernon's Texas Civil Statutes) (page 147, line 28), between "Act" and the underlined semicolon, insert ", except and only to the extent necessary to comply with federal law".

(13) In SECTION 3.11 of the bill, in added Section 8C(b)(1), Chapter 88 (H.B. 1573), Acts of the 77th Legislature, Regular Session, 2001 (Article 6243h, Vernon's Texas Civil Statutes) (page 166, lines 5 and 6), strike "or, if actuarial data is not available, estimates of actuarial data".

(14) In SECTION 3.11 of the bill, in added Section 8C(b)(2), Chapter 88 (H.B. 1573), Acts of the 77th Legislature, Regular Session, 2001 (Article 6243h, Vernon's Texas Civil Statutes) (page 166, lines 9 and 10), strike "or, if actuarial data is not available, estimates of actuarial data".

(15) In SECTION 3.11 of the bill, in added Section 8C(d)(2), Chapter 88 (H.B. 1573), Acts of the 77th Legislature, Regular Session, 2001 (Article 6243h, Vernon's Texas Civil Statutes) (page 168, line 5), strike "March 31, 2018, in accordance with Subsection (j)" and substitute "December 31, 2017, in accordance with Subsection (j)(2)".

(16) In SECTION 3.11 of the bill, strike added Section 8C(e), Chapter 88 (H.B. 1573), Acts of the 77th Legislature, Regular Session, 2001 (Article 6243h, Vernon's Texas Civil Statutes) (page 168, lines 9 through 22), and substitute the following:

(e) If the city actuary does not prepare an initial risk sharing valuation study for purposes of this section, the pension system actuary's initial risk sharing valuation study will be used as the final risk sharing valuation study for purposes of this Act unless the city did not prepare a proposed initial risk sharing valuation study because the pension system actuary did not provide the necessary actuarial data in a timely manner. If the city did not prepare a proposed initial risk sharing valuation study because the pension system actuary did not provide the necessary actuarial data in a timely manner, the city actuary shall have 60 days to prepare the proposed initial risk sharing valuation study on receipt of the necessary information.

(17) In SECTION 3.11 of the bill, strike added Section 8C(j)(2), Chapter 88 (H.B. 1573), Acts of the 77th Legislature, Regular Session, 2001 (Article 6243h, Vernon's Texas Civil Statutes) (page 169, line 28, through page 170, line 10), and substitute the following:

(2) subject to Subsection (k) of this section, if the pension board rescinds benefit changes under Subdivision (1) of this subsection or pension obligation bond proceeds are not delivered on or before December 31, 2017, the initial risk sharing valuation study shall be prepared again and restated without assuming the delivery of the pension obligation bond proceeds, the later delivery of pension obligation bond proceeds, or the rescinded benefit changes, as applicable, including a reamortization of the city contribution amount for the amortization period remaining for the legacy liability, and the resulting city contribution rate and city contribution amount will become effective in the fiscal year following the completion of the restated initial risk sharing valuation study.