Sec. 2.12. INVESTMENT RETURN ASSUMPTIONS; ACTUARIAL EXPERIENCE STUDY REQUIRED. (a) Except as provided by Section 67(f)(3), Article XVI, Texas Constitution, and notwithstanding Section 11.01 of this Act, the board shall adopt an assumed rate of return of seven percent to be used in the preparation of any actuarial valuation conducted on or after September 1, 2019, and before January 1, 2020.

(b) This section expires January 2, 2020.