Honorable Dade Phelan, Speaker of the House, House of Representatives
FROM:
Jerry McGinty, Director, Legislative Budget Board
IN RE:
HR2433 by Bonnen (Suspending limitations on conference committee jurisdiction, S.B. No. 10.), As Introduced
Estimated Two-year Net Impact to General Revenue Related Funds for HR2433, As Introduced : a negative impact of ($4,990,000,000) through the biennium ending August 31, 2025.
This resolution would make no appropriation but could provide the legal basis for an appropriation of funds to implement the provisions of the bill.
General Revenue-Related Funds, Five- Year Impact:
Fiscal Year
Probable Net Positive/(Negative) Impact to General Revenue Related Funds
2024
($4,990,000,000)
2025
$0
2026
$0
2027
$0
2028
$0
All Funds, Five-Year Impact:
Fiscal Year
Probable Savings/(Cost) from General Revenue Fund 1
2024
($4,990,000,000)
2025
$0
2026
$0
2027
$0
2028
$0
Fiscal Analysis
The resolution would suspend rules necessary for the conference committee on Senate Bill 10 to amend the Government Code to adjust the eligibility requirements for the cost-of-living adjustment provided for in the bill and adjust the amounts of the onetime supplemental payment for annuitants of the Teacher Retirement System (TRS) who are at least 70 years of age, but less than 75 years of age.
Methodology
TRS assumes that the additional cost to provide a onetime supplemental payment to annuitants who are between 70 and 75 years of age would be $242.0 million. The cost to provide a onetime supplemental payment to annuitants who are at least 75 years of age is estimated to be approximately $1,394.0 million. The total cost of providing the onetime supplemental payments provided for in the bill would be $1,636.0 million.
It is assumed that the provisions of the resolution suspending rules necessary for the conference committee on Senate Bill 10 would result in a total cost of $4,990.0 million.
Local Government Impact
No fiscal implication to units of local government is anticipated.