Bill Text: TX HB99 | 2013-2014 | 83rd Legislature | Comm Sub
Bill Title: Relating to the state contributions to the Teacher Retirement System of Texas.
Sponsorship: Moderate Partisan Bill (Republican 5-1)
Status: (Introduced - Dead) 2013-04-29 - Committee report sent to Calendars [HB99 Detail]
Download: Texas-2013-HB99-Comm_Sub.html
| 83R198 SGA-D | ||
| By: Perry, Sheffield of Bell, Lucio III, | H.B. No. 99 | |
| Guillen, et al. | ||
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| relating to the state contributions to the Teacher Retirement | ||
| System of Texas. | ||
| BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: | ||
| SECTION 1. Section 825.404, Government Code, is amended by | ||
| adding Subsection (a-1) to read as follows: | ||
| (a-1) During each fiscal biennium, the state's contribution | ||
| percentage under Subsection (a) must be not less than the amount of | ||
| the federal Old-Age, Survivors, and Disability Insurance (OASDI) | ||
| tax rate in effect on January 1 of the year preceding the biennium | ||
| under 26 U.S.C. Section 3101(a). This subsection applies only to a | ||
| state fiscal biennium for which the OASDI tax rate in effect on the | ||
| preceding January 1 is at least 6 and not more than 10 percent. | ||
| SECTION 2. Section 825.404(a-1), Government Code, as added | ||
| by this Act, applies to state contributions to the Teacher | ||
| Retirement System of Texas for public education employees beginning | ||
| with the first state contribution amount for that purpose made on or | ||
| after September 1, 2013. | ||
| SECTION 3. 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. If this | ||
| Act does not receive the vote necessary for immediate effect, this | ||
| Act takes effect September 1, 2013. | ||
