Recent news indicates that the proposal for a constitutional amendment (PEC 66/2023), which changes rules regarding the payment of court-ordered debts (precatórios), will be scheduled for a vote in the Chamber of Deputies.

The measure was approved by the Senate and, if approved by the Chamber, will proceed to promulgation. Once promulgated, the new rules will come into effect.

PEC 66/2023 aims, among other things, to:

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  remove precatórios from the Union’s primary expenditure limit starting in 2026;

  
  


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  limit the payment of these debts by States and Municipalities;

  
  


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  determine that from 08/01/2025, the monetary adjustment of precatórios will follow the Broad Consumer Price Index (IPCA) instead of SELIC (currently higher than IPCA).

  
  

In other words, it replaces the SELIC rate with IPCA + 2% per year, in simple interest, as the adjustment criterion — or SELIC, whichever is lower — and brings forward the deadline for presenting precatórios, reducing the time for interest accrual. This rule would apply to all Federal, State, and Municipal precatórios and RPVs.

If PEC is approved, creditors of the Union, States, and Municipalities will have the timeframe for receiving their credits/precatórios extended, delaying the full settlement of amounts due.

Furthermore, the new method of updating precatório and RPV credits reduces the remuneration of the credit, which practically implies a real loss for creditors, since they will now be corrected by an index lower than the current SELIC, while credits owed to the National Treasury remain corrected by SELIC.

Additionally, the PEC allows direct agreements with creditors without clear delimitation of the discount percentage, which tends to further weaken legal certainty in the precatório market.

It is undeniable that PEC, if definitively approved, will cause losses to precatório creditors due to the detrimental change in the correction index, disproportionate limitation of payments, and perpetuation of state noncompliance.

The Dupont Spiller Fadanelli Lawyers Team is monitoring the issue and is fully available to clarify any questions regarding the matter.