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A BILL TO BE ENTITLED
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AN ACT
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relating to the election of alternative annuity payments payable to |
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surviving spouses and designated beneficiaries of persons |
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wrongfully imprisoned. |
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BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: |
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SECTION 1. Section 103.0535, Civil Practice and Remedies |
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Code, is amended by amending Subsection (d) and adding Subsection |
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(d-1) to read as follows: |
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(d) An election under this section must be made not later |
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than the 45th day after the date: |
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(1) on which the claimant files with the comptroller |
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the application required by Section 103.051; or |
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(2) on which the claimant experiences one of the |
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following life-changing events: |
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(A) a change in the employment status of the |
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claimant or a spouse, dependent, or beneficiary of the claimant; |
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(B) marriage or divorce of the claimant; |
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(C) the addition of a dependent of the claimant; |
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or |
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(D) the death of a dependent, spouse, or |
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beneficiary of the claimant. |
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(d-1) An election under Subsection (d) must be made on a |
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form prescribed by the comptroller that: |
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(1) identifies the claimant's spouse or designated |
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beneficiary according to Section 103.0536; and |
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(2) specifies the option selected under Subsection |
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(c). |
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SECTION 2. (a) Notwithstanding Section 103.0535(d), Civil |
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Practice and Remedies Code, as amended by this Act, a person |
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entitled to compensation under Section 103.001(a), Civil Practice |
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and Remedies Code, who started receiving annuity payments before |
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the effective date of this Act may elect to receive any remaining |
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payments as alternative annuity payments under Section 103.0535, |
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Civil Practice and Remedies Code, as amended by this Act, by filing |
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the form described by Section 103.0535(d-1), Civil Practice and |
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Remedies Code, as added by this Act, with the comptroller after |
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December 31, 2019, and before March 1, 2020. The value of |
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alternative annuity payments elected under this subsection must be |
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actuarially equivalent to the remaining value of the annuity |
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payments the person would receive absent the election. This |
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subsection does not affect the ability of a person described by this |
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subsection to make an election under Section 103.0535(d), Civil |
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Practice and Remedies Code, as amended by this Act, following a |
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life-changing event described by that subsection. |
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(b) Not later than December 1, 2019, the comptroller shall |
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provide notice to all persons entitled to compensation under |
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Section 103.001(a), Civil Practice and Remedies Code, of: |
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(1) the opportunity described by Subsection (a) of |
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this section to elect to receive alternative annuity payments under |
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Section 103.0535, Civil Practice and Remedies Code, as amended by |
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this Act; and |
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(2) the opportunity to elect to receive alternative |
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annuity payments after a life-changing event under Section |
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103.0535(d), Civil Practice and Remedies Code, as amended by this |
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Act. |
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(c) The comptroller shall provide the notice required by |
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Subsection (b) of this section by: |
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(1) certified mail to a person's last known address; |
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and |
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(2) phone call to the phone number that the |
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comptroller has on file for the person. |
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SECTION 3. This Act takes effect September 1, 2019. |