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