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 |
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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 [ |
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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. |