Bill Text: TX SJR68 | 2015-2016 | 84th Legislature | Introduced

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Bill Title: Proposing a constitutional amendment to make a one-time transfer of money from the economic stabilization fund to the trust fund of the Employees Retirement System of Texas.

Spectrum: Partisan Bill (Republican 1-0)

Status: (N/A - Dead) 2015-04-08 - Referred to Finance [SJR68 Detail]

Download: Texas-2015-SJR68-Introduced.html

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By: Eltife S.J.R. No. 68

SENATE JOINT RESOLUTION
proposing a constitutional amendment to make a one-time transfer of
money from the economic stabilization fund to the trust fund of the
Employees Retirement System of Texas.
BE IT RESOLVED BY THE LEGISLATURE OF THE STATE OF TEXAS:
SECTION 1. Section 49-g, Article III, Texas Constitution,
is amended to read as follows:
SECTION 2. The following temporary provision is added to
the Texas Constitution:
TEMPORARY PROVISION. (a) This temporary provision applies
to the constitutional amendment proposed by the 84th Legislature,
Regular Session, 2015, to make a one-time transfer of money from the
economic stabilization fund to the trust fund of the Employees
Retirement System of Texas.
(b) On January 1, 2016, the comptroller of public accounts
shall transfer $1,500,000,000 from the economic stabilization fund
established under Section 49-g, Article III, Texas Constitution, to
the trust fund of the Employees Retirement System of Texas.
(c) This temporary provision expires January 1, 2017.
Section 3. This proposed constitutional amendment shall be
submitted to the voters at an election to be held November 3, 2015.
The ballot shall be printed to provide for voting for or against the
proposition: "The constitutional amendment providing for transfer
of money from the economic stabilization fund to retire a portion of
the state's unfunded liability in the Employee Retirement System."