By: Junell H.B. No. 1001 73R4893 GCH-F A BILL TO BE ENTITLED 1-1 AN ACT 1-2 relating to payment of contributions to the Teacher Retirement 1-3 System of Texas for the fiscal year ending August 31, 1995. 1-4 BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: 1-5 SECTION 1. (a) Notwithstanding Section 403.093(c), 1-6 Government Code, the comptroller may not make monthly payments from 1-7 the general revenue fund to the state contribution account of the 1-8 trust fund for the Teacher Retirement System of Texas during June, 1-9 July, or August of 1995, except as provided by Subsection (b) of 1-10 this section. Not later than September 3, 1995, the comptroller 1-11 shall make the payments for those months deferred by this section. 1-12 (b) Each month in which any portion of a payment deferred by 1-13 this section remains unpaid, the comptroller shall transfer to the 1-14 state contribution account of the trust fund for the Teacher 1-15 Retirement System of Texas from the general revenue fund an amount 1-16 certified by the Teacher Retirement System of Texas that is equal 1-17 to the greater of eight percent of or the rate of yield that would 1-18 have been earned on the unpaid deferred amount if monthly 1-19 contributions to the Teacher Retirement System of Texas had been 1-20 made as provided by Section 403.093(c), Government Code, for that 1-21 month and for each previous month of the fiscal year in which the 1-22 payments have been deferred as provided by this section, and had 1-23 been invested. 1-24 SECTION 2. The importance of this legislation and the 2-1 crowded condition of the calendars in both houses create an 2-2 emergency and an imperative public necessity that the 2-3 constitutional rule requiring bills to be read on three several 2-4 days in each house be suspended, and this rule is hereby suspended, 2-5 and that this Act take effect and be in force from and after its 2-6 passage, and it is so enacted.