87R2181 MEW-F
By: Allison H.B. No. 444
A BILL TO BE ENTITLED
AN ACT
relating to an appropriation of money from the economic
stabilization fund to the Teacher Retirement System of Texas.
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS:
SECTION 1. In addition to other amounts appropriated to the
Teacher Retirement System of Texas for the state fiscal biennium
beginning September 1, 2021, the amount of $1.2 billion is
appropriated from the economic stabilization fund to the retired
school employees group insurance fund established under Section
1575.301, Insurance Code, for the state fiscal year ending August
31, 2022, for the purpose of increasing the base of the fund and
maintaining the group insurance premiums through the state fiscal
year ending August 31, 2025.
SECTION 2. (a) Subject to Subsection (b) of this section:
(1) 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; and
(2) if this Act does not receive the vote necessary for
immediate effect, this Act takes effect on the 91st day after the
last day of the legislative session.
(b) This Act takes effect only if it receives a vote of
two-thirds of the members present in each house of the legislature,
as provided by Section 49-g(m), Article III, Texas Constitution.