Texas House Bill HB363

Texas 2017 - 85th 1st C.S.

Caption

Relating to the allocation of certain funds designated for transfer to the retired school employees group insurance fund.

Impact

The implications of HB 363 are significant for retired school employees, as it aims to ensure that their insurance fund remains adequately funded, especially in times of budget constraints. The bill calls for adjustments to various fund allocations, including the economic stabilization fund and the state highway fund, to balance the needs of these different areas while protecting the interests of retired educators. By doing so, the bill endeavors to stabilize funding streams amidst changing economic conditions, which could directly affect the availability of insurance benefits for retired school employees.

Summary

House Bill 363 addresses the allocation of specific state funds intended for the retired school employees group insurance fund. The bill amends existing sections of the Government Code related to the distribution of funds. Specifically, it outlines the circumstances under which the Texas comptroller must allocate surplus funds, ensuring that an adequate balance for the retired school employees insurance fund is maintained when state revenues fluctuate.

Contention

A notable point of contention surrounding HB 363 is its conditional implementation, which hinges on a constitutional amendment approved by voters. If the amendment allowing for surplus state revenue allocation to the insurance fund does not pass, the entire act would become ineffective, raising concerns among stakeholders about the reliability of funding for the insurance of retired educators. Critics may argue that tying the bill's success to an amendment creates uncertainty about the long-term feasibility of sufficient funding for these vital benefits.