| Old | New | Differences | |
|---|---|---|---|
| 1 | 1 | 87R7084 KFF-F | |
| 2 | 2 | By: Perry S.B. No. 976 | |
| 3 | 3 | ||
| 4 | 4 | ||
| 5 | 5 | A BILL TO BE ENTITLED | |
| 6 | 6 | AN ACT | |
| 7 | 7 | relating to inclusion of appropriations from the economic | |
| 8 | 8 | stabilization fund to the Employees Retirement System of Texas in | |
| 9 | 9 | certain general appropriations bills prepared by the Legislative | |
| 10 | 10 | Budget Board. | |
| 11 | 11 | BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: | |
| 12 | 12 | SECTION 1. Section 322.008, Government Code, is amended by | |
| 13 | 13 | adding Subsection (e) to read as follows: | |
| 14 | 14 | (e) The director shall include in each general | |
| 15 | 15 | appropriations bill prepared by the director and transmitted as | |
| 16 | 16 | required by Subsection (d) for consideration by the governor and | |
| 17 | 17 | the legislature appropriations from the economic stabilization | |
| 18 | 18 | fund to the Employees Retirement System of Texas in the amount of | |
| 19 | 19 | $50 million for each year of the state fiscal biennium for which the | |
| 20 | 20 | bill is prepared to be used to reduce or eliminate the unfunded | |
| 21 | 21 | actuarial liabilities of the system. An appropriation described by | |
| 22 | 22 | this subsection must be in addition to and separate from other | |
| 23 | 23 | amounts appropriated to the system under the bill, including | |
| 24 | 24 | amounts required to be contributed by the state under Section | |
| 25 | 25 | 67(b)(3), Article XVI, Texas Constitution, or any other law. This | |
| 26 | 26 | subsection expires September 1, 2039. | |
| 27 | 27 | SECTION 2. This Act takes effect September 1, 2021. |