Bill Text: TX HB2505 | 2019-2020 | 86th Legislature | Introduced

Texas House Bill 2505 (Prior Session Legislation)

Introduced

Bill Title: Relating to an appropriation of money from the economic stabilization fund to the Teacher Retirement System of Texas.

Sponsorship: Bipartisan Bill

Status: (Introduced - Dead) 2019-03-11 - Referred to Appropriations [HB2505 Detail]

Download: Texas-2019-HB2505-Introduced.html



	By: Allison	H.B. No. 2505



	A BILL TO BE ENTITLED
	AN ACT
	relating to an appropriation of money from the economic
	stabilization fund to the Teacher Retirement System of Texas.
	BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS:
	SECTION 1. In addition to other amounts appropriated to the
	Teacher Retirement System of Texas for the state fiscal biennium
	beginning September 1, 2019, the amount of:
	(1) $660 million is appropriated from the economic
	stabilization fund to the Teacher Retirement System of Texas for
	the state fiscal year ending August 31, 2020, for the purpose of
	making an additional state contribution to the retirement system;
	and
	(2) $440 million is appropriated from the economic
	stabilization fund to the retired school employees group insurance
	fund established under Section 1575.301, Insurance Code, for the
	state fiscal year ending August 31, 2020, for the purpose of
	maintaining the solvency of the fund.
	SECTION 2. (a) Subject to Subsection (b) of this section:
	(1) this Act takes effect immediately if it receives a
	vote of two-thirds of all the members elected to each house, as

	provided by Section 39, Article III, Texas Constitution; and
	(2) if this Act does not receive the vote necessary for
	immediate effect, this Act takes effect on the 91st day after the
	last day of the legislative session.
	(b) This Act takes effect only if it receives a vote of
	two-thirds of the members present in each house of the legislature,
	as provided by Section 49-g(m), Article III, Texas Constitution.