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A BILL TO BE ENTITLED
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AN ACT
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relating to an appropriation of money from the economic |
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stabilization fund to the Teacher Retirement System of Texas. |
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BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: |
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SECTION 1. In addition to other amounts appropriated to the |
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Teacher Retirement System of Texas for the state fiscal biennium |
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beginning September 1, 2021, the amount of $1.2 billion is |
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appropriated from the economic stabilization fund to the retired |
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school employees group insurance fund established under Section |
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1575.301, Insurance Code, for the state fiscal year ending August |
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31, 2022, for the purpose of increasing the base of the fund and |
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maintaining the group insurance premiums through the state fiscal |
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year ending August 31, 2025. |
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SECTION 2. (a) Subject to Subsection (b) of this section: |
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(1) this Act takes effect immediately if it receives a |
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vote of two-thirds of all the members elected to each house, as |
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provided by Section 39, Article III, Texas Constitution; and |
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(2) if this Act does not receive the vote necessary for |
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immediate effect, this Act takes effect on the 91st day after the |
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last day of the legislative session. |
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(b) This Act takes effect only if it receives a vote of |
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two-thirds of the members present in each house of the legislature, |
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as provided by Section 49-g(m), Article III, Texas Constitution. |