| 1 | 1 | | 83R8908 SGA-F |
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| 2 | 2 | | By: Keffer, Ratliff, Howard, Alonzo, H.B. No. 1383 |
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| 3 | 3 | | King of Taylor, et al. |
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| 4 | 4 | | Substitute the following for H.B. No. 1383: |
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| 5 | 5 | | By: Callegari C.S.H.B. No. 1383 |
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| 6 | 6 | | |
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| 7 | 7 | | |
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| 8 | 8 | | A BILL TO BE ENTITLED |
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| 9 | 9 | | AN ACT |
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| 10 | 10 | | relating to the state contribution for the Teacher Retirement |
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| 11 | 11 | | System of Texas. |
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| 12 | 12 | | BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: |
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| 13 | 13 | | SECTION 1. Section 825.404, Government Code, is amended by |
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| 14 | 14 | | amending Subsection (a) and adding Subsection (a-1) to read as |
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| 15 | 15 | | follows: |
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| 16 | 16 | | (a) During each fiscal year, the state shall contribute to |
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| 17 | 17 | | the retirement system an amount equal to at least 7.4 [six] and not |
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| 18 | 18 | | more than 10 percent of the aggregate annual compensation of all |
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| 19 | 19 | | members of the retirement system during that fiscal year. The |
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| 20 | 20 | | amount of the state contribution made under this section may not be |
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| 21 | 21 | | less than the amount contributed by members during that fiscal year |
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| 22 | 22 | | in accordance with Section 825.402. |
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| 23 | 23 | | (a-1) Notwithstanding Subsection (a), during the fiscal |
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| 24 | 24 | | year beginning September 1, 2013, the state shall contribute to the |
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| 25 | 25 | | retirement system an amount equal to 6.9 percent of the aggregate |
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| 26 | 26 | | annual compensation of all members of the retirement system during |
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| 27 | 27 | | that fiscal year. During the fiscal year beginning September 1, |
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| 28 | 28 | | 2014, the state shall contribute to the retirement system an amount |
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| 29 | 29 | | equal to 7.4 percent of the aggregate annual compensation of all |
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| 30 | 30 | | members of the retirement system during that fiscal year. This |
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| 31 | 31 | | subsection expires September 1, 2015. |
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| 32 | 32 | | SECTION 2. This Act takes effect immediately if it receives |
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| 33 | 33 | | a vote of two-thirds of all the members elected to each house, as |
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| 34 | 34 | | provided by Section 39, Article III, Texas Constitution. If this |
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| 35 | 35 | | Act does not receive the vote necessary for immediate effect, this |
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| 36 | 36 | | Act takes effect September 1, 2013. |
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