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A BILL TO BE ENTITLED
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AN ACT
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relating to dedicating certain state revenue to making additional |
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contributions to the state retirement system for education |
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employees and to the health benefit plan for retired education |
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employees and their dependents. |
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BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: |
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SECTION 1. Subchapter F, Chapter 403, Government Code, is |
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amended by adding Section 403.098 to read as follows: |
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Sec. 403.098. TRANSFERS FOR EDUCATION EMPLOYEES' |
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RETIREMENT BENEFITS. (a) Each time the comptroller, as provided by |
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Section 49-g(b) or (c), Article III, Texas Constitution, reduces an |
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amount of general revenue that otherwise is to be transferred to the |
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economic stabilization fund, the comptroller at the same time shall |
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transfer to the credit of an account in the general revenue fund an |
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amount of general revenue equal to the amount by which the |
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comptroller reduced the amount of the transfer to the economic |
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stabilization fund. |
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(b) Each time the comptroller, as provided by Section |
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49-g(i), Article III, Texas Constitution, credits to general |
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revenue interest otherwise due to the economic stabilization fund, |
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the comptroller at the same time shall transfer to the credit of an |
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account in the general revenue fund an amount of general revenue |
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equal to the amount of the interest credited to general revenue. |
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(c) Money transferred to an account in the general revenue |
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fund under this section may be appropriated only to make additional |
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contributions to the Teacher Retirement System of Texas created |
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under Section 67(b), Article XVI, Texas Constitution, or to the |
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health benefit plan created for the retired members of the Teacher |
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Retirement System of Texas and their dependents. |
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SECTION 2. This Act takes effect December 1, 2017. |