HB 1296: Pensions and Retirement Benefits - As introduced, allows a retirement allowance increase equal to the percentage increase in the consumer price index if there is an over-collection of state tax revenue; requires this allowance increase to be used instead of the allowance increase in present law, which cannot exceed 3 percent. - Amends TCA Section 8-36-701.

Plain-language summary

HB 1296 is a bill introduced in the Tennessee House on February 6, 2025. According to its official title, it concerns: Pensions and Retirement Benefits - As introduced, allows a retirement allowance increase equal to the percentage increase in the consumer price index if there is an over-collection of state tax revenue; requires this allowance increase to be used instead of the allowance increase in present law, which cannot exceed 3 percent. - Amends TCA Section 8-36-701. Primary sponsor: Jason Powell (Democratic). Most recent recorded action (March 19, 2025): Failed in s/c Public Service Subcommittee of State & Local Government Committee.

Generated automatically from the official title, sponsor list, and status record only. It does not characterize the bill’s purpose or effects. How summaries are written