Bill Text: TX HB321 | 2017 | 85th Legislature 1st Special Session | Introduced


Bill Title: Relating to required state contributions to the Teacher Retirement System of Texas; making an appropriation.

Spectrum: Bipartisan Bill

Status: (Introduced - Dead) 2017-07-27 - Referred to Appropriations [HB321 Detail]

Download: Texas-2017-HB321-Introduced.html
  85S10848 LED-D
 
  By: Rodriguez of Bexar H.B. No. 321
 
 
 
A BILL TO BE ENTITLED
 
AN ACT
  relating to required state contributions to the Teacher Retirement
  System of Texas; making an appropriation.
         BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS:
         SECTION 1.  Section 1575.202(a), Insurance Code, as
  effective September 1, 2017, is amended to read as follows:
         (a)  Each state fiscal year, the state shall contribute to
  the fund an amount equal to a percentage [1.25 percent] of the
  salary of each active employee as follows:
               (1)  for the 2018 and 2019 fiscal years, two percent;
               (2)  for the 2020 and 2021 fiscal years, 2.5 percent;
               (3)  for the 2022 and 2023 fiscal years, three percent;
               (4)  for the 2024 and 2025 fiscal years, 3.5 percent;
               (5)  for the 2026 and 2027 fiscal years, four percent;
               (6)  for the 2028 and 2029 fiscal years, 4.5 percent;
               (7)  for the 2030 and 2031 fiscal years, five percent;
               (8)  for the 2032 and 2033 fiscal years, 5.5 percent;
  and
               (9)  for the 2034 fiscal year, and each subsequent
  fiscal year, six percent.
         SECTION 2.  In addition to amounts previously appropriated
  in S.B. 1, Acts of the 85th Legislature, Regular Session, 2017 (the
  General Appropriations Act), to the Teacher Retirement System of
  Texas for the state fiscal biennium ending August 31, 2019, for
  Strategy A.2.1, Retiree Health - Statutory Funds, the amount of
  $485.7 million is appropriated from the economic stabilization fund
  to the Teacher Retirement System of Texas for the state fiscal year
  ending August 31, 2018, for the purpose of making the state
  contribution required by Section 1575.202, Insurance Code, as
  amended by this Act, for that fiscal year.
         SECTION 3.  (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.
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