85S11993 MK-D
By: Howard H.B. No. 363
A BILL TO BE ENTITLED
AN ACT
relating to the allocation of certain funds designated for transfer
to the retired school employees group insurance fund.
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS:
SECTION 1. Sections 316.093(b) and (c), Government Code,
are amended to read as follows:
(b) If the sum described by Subsection (a) is less than the
sufficient balance adopted under Section 316.092, the comptroller
shall allocate any funds designated for transfer to the retired
school employees group insurance fund under Section 49-g(c-3),
Article III, Texas Constitution, to the economic stabilization
fund, reduce the allocation to the state highway fund provided by
Section 49-g(c), Article III, Texas Constitution, and increase the
allocation to the economic stabilization fund, in an equal amount,
until the sufficient balance adopted under Section 316.092 is
achieved.
(c) If under Section 316.092 a sufficient balance has not
been adopted for the comptroller to consider under this section,
the comptroller shall adjust the allocation of amounts to be
transferred to the economic stabilization fund, [and to] the state
highway fund, and the retired school employees group insurance
fund, if applicable, provided by Section 49-g(c), Article III,
Texas Constitution, so that the total of those amounts is
transferred to the economic stabilization fund, except that the
comptroller shall reduce a transfer made under this subsection as
necessary to prevent the amount in the fund from exceeding the limit
in effect for that biennium under Section 49-g(g) of that article.
SECTION 2. This Act takes effect January 1, 2018, but only
if the constitutional amendment proposed by the 85th Legislature,
1st Called Session, 2017, to allocate certain surplus state revenue
to the retired school employees group insurance fund is approved by
the voters. If that constitutional amendment is not approved by the
voters, this Act has no effect.