Bill Text: TX SB976 | 2021-2022 | 87th Legislature | Introduced
Bill Title: Relating to inclusion of appropriations from the economic stabilization fund to the Employees Retirement System of Texas in certain general appropriations bills prepared by the Legislative Budget Board.
Spectrum: Partisan Bill (Republican 1-0)
Status: (Introduced - Dead) 2021-03-11 - Referred to Finance [SB976 Detail]
Download: Texas-2021-SB976-Introduced.html
| 87R7084 KFF-F | ||
| By: Perry | S.B. No. 976 | |
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| relating to inclusion of appropriations from the economic | ||
| stabilization fund to the Employees Retirement System of Texas in | ||
| certain general appropriations bills prepared by the Legislative | ||
| Budget Board. | ||
| BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: | ||
| SECTION 1. Section 322.008, Government Code, is amended by | ||
| adding Subsection (e) to read as follows: | ||
| (e) The director shall include in each general | ||
| appropriations bill prepared by the director and transmitted as | ||
| required by Subsection (d) for consideration by the governor and | ||
| the legislature appropriations from the economic stabilization | ||
| fund to the Employees Retirement System of Texas in the amount of | ||
| $50 million for each year of the state fiscal biennium for which the | ||
| bill is prepared to be used to reduce or eliminate the unfunded | ||
| actuarial liabilities of the system. An appropriation described by | ||
| this subsection must be in addition to and separate from other | ||
| amounts appropriated to the system under the bill, including | ||
| amounts required to be contributed by the state under Section | ||
| 67(b)(3), Article XVI, Texas Constitution, or any other law. This | ||
| subsection expires September 1, 2039. | ||
| SECTION 2. This Act takes effect September 1, 2021. | ||
