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