| 1 | 1 | | 83R198 SGA-D |
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| 2 | 2 | | By: Perry, Sheffield of Bell, Lucio III, H.B. No. 99 |
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| 3 | 3 | | Guillen, et al. |
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| 4 | 4 | | |
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| 5 | 5 | | |
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| 6 | 6 | | A BILL TO BE ENTITLED |
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| 7 | 7 | | AN ACT |
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| 8 | 8 | | relating to the state contributions to the Teacher Retirement |
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| 9 | 9 | | System of Texas. |
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| 10 | 10 | | BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: |
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| 11 | 11 | | SECTION 1. Section 825.404, Government Code, is amended by |
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| 12 | 12 | | adding Subsection (a-1) to read as follows: |
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| 13 | 13 | | (a-1) During each fiscal biennium, the state's contribution |
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| 14 | 14 | | percentage under Subsection (a) must be not less than the amount of |
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| 15 | 15 | | the federal Old-Age, Survivors, and Disability Insurance (OASDI) |
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| 16 | 16 | | tax rate in effect on January 1 of the year preceding the biennium |
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| 17 | 17 | | under 26 U.S.C. Section 3101(a). This subsection applies only to a |
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| 18 | 18 | | state fiscal biennium for which the OASDI tax rate in effect on the |
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| 19 | 19 | | preceding January 1 is at least 6 and not more than 10 percent. |
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| 20 | 20 | | SECTION 2. Section 825.404(a-1), Government Code, as added |
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| 21 | 21 | | by this Act, applies to state contributions to the Teacher |
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| 22 | 22 | | Retirement System of Texas for public education employees beginning |
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| 23 | 23 | | with the first state contribution amount for that purpose made on or |
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| 24 | 24 | | after September 1, 2013. |
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| 25 | 25 | | SECTION 3. This Act takes effect immediately if it receives |
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| 26 | 26 | | a vote of two-thirds of all the members elected to each house, as |
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| 27 | 27 | | provided by Section 39, Article III, Texas Constitution. If this |
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| 28 | 28 | | Act does not receive the vote necessary for immediate effect, this |
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| 29 | 29 | | Act takes effect September 1, 2013. |
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