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A BILL TO BE ENTITLED
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AN ACT
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relating to establishing a joint select committee to study the |
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feasibility and sustainability of providing a cost-of-living |
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adjustment applicable to certain benefits paid by the Teacher |
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Retirement System of Texas. |
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BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: |
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SECTION 1. DEFINITION. In this Act, "committee" means the |
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joint select committee established under Section 2 of this Act. |
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SECTION 2. JOINT SELECT COMMITTEE. (a) A joint select |
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committee is established for the purposes of this Act and is |
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composed of the following members: |
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(1) two members of the senate appointed by the |
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lieutenant governor; |
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(2) two members of the house of representatives |
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appointed by the speaker of the house of representatives; |
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(3) one member of the public who is appointed by the |
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lieutenant governor from lists of names submitted by stakeholder |
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groups; and |
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(4) one member of the public who is appointed by the |
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speaker of the house of representatives from lists of names |
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submitted by stakeholder groups. |
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(b) The lieutenant governor and the speaker of the house of |
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representatives shall make the appointments required under |
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Subsection (a) of this section as soon as possible after the |
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effective date of this Act, but not later than November 1, 2021. |
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(c) If a vacancy occurs, the appropriate appointing officer |
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shall appoint a person to serve for the remainder of the unexpired |
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term in the same manner as the original appointment. |
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SECTION 3. PRESIDING OFFICER; MEETINGS. (a) The |
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lieutenant governor and the speaker of the house of representatives |
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shall jointly select the presiding officer of the committee. |
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(b) The committee shall convene at the call of the presiding |
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officer. |
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SECTION 4. COOPERATION OF STATE AGENCY, DEPARTMENT, OR |
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OFFICE. If needed to perform the duties of the committee, the |
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committee may request the assistance of a state agency, department, |
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or office. The state agency, department, or office shall provide |
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the committee with the requested assistance. |
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SECTION 5. EXPENSES. (a) Each member of the committee is |
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entitled to reimbursement for actual and necessary expenses |
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incurred in performing committee duties. |
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(b) Each legislative member is entitled to reimbursement |
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from the appropriate fund of the member's respective house. |
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(c) Each public member is entitled to reimbursement from |
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funds appropriated to the committee. |
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SECTION 6. COMMITTEE POWERS AND DUTIES; STUDY. (a) The |
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committee shall study the feasibility and sustainability of |
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providing a cost-of-living adjustment payable to annuitants |
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receiving a retirement benefit annuity under the Teacher Retirement |
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System of Texas. The study must seek to identify and recommend a |
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financial structure capable of providing the cost-of-living |
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adjustment. |
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(b) The committee has all other powers and duties provided |
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to a special or select committee by the rules of the senate and |
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house of representatives, by Subchapter B, Chapter 301, Government |
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Code, and by policies of the senate and house committees on |
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administration. |
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SECTION 7. REPORT. Not later than September 1, 2022, the |
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committee shall submit to the governor, the lieutenant governor, |
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and the speaker of the house of representatives a report of the |
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committee's findings and recommendations under this Act. |
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SECTION 8. ABOLITION OF COMMITTEE; EXPIRATION. The |
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committee is abolished and this Act expires September 15, 2022. |
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SECTION 9. EFFECTIVE DATE. This Act takes effect |
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immediately if it receives a vote of two-thirds of all the members |
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elected to each house, as provided by Section 39, Article III, Texas |
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Constitution. If this Act does not receive the vote necessary for |
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immediate effect, this Act takes effect September 1, 2021. |