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A BILL TO BE ENTITLED
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AN ACT
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relating to inclusion of appropriations from the economic |
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stabilization fund to the Employees Retirement System of Texas in |
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certain general appropriations bills prepared by the Legislative |
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Budget Board. |
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BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: |
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SECTION 1. Section 322.008, Government Code, is amended by |
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adding Subsection (e) to read as follows: |
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(e) The director shall include in each general |
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appropriations bill prepared by the director and transmitted as |
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required by Subsection (d) for consideration by the governor and |
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the legislature appropriations from the economic stabilization |
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fund to the Employees Retirement System of Texas in the amount of |
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$50 million for each year of the state fiscal biennium for which the |
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bill is prepared to be used to reduce or eliminate the unfunded |
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actuarial liabilities of the system. An appropriation described by |
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this subsection must be in addition to and separate from other |
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amounts appropriated to the system under the bill, including |
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amounts required to be contributed by the state under Section |
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67(b)(3), Article XVI, Texas Constitution, or any other law. This |
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subsection expires September 1, 2039. |
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SECTION 2. This Act takes effect September 1, 2021. |