By Serna                                              H.B. No. 2927
                                 A BILL TO BE ENTITLED
    1-1                                AN ACT
    1-2  relating to contributions to the Optional Retirement Program.
    1-3        BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS.
    1-4        SECTION 1.  Section 830.201, Government Code, is amended to
    1-5  read as follows:
    1-6        Sec. 830.201.  Contributions.  (a)  Each fiscal year the
    1-7  state shall contribute to the optional retirement program from the
    1-8  general revenue fund an amount equal to 7.31 percent <(8.5 percent)>
    1-9  of the aggregate annual compensation of all participants in the
   1-10  program during that year.  The legislature may not appropriate
   1-11  contributions to the optional retirement program at a different
   1-12  rate.  An institution of higher education shall contribute from
   1-13  local funds to the optional retirement program 1.19 percent of the
   1-14  aggregate compensation of all participants in the program during
   1-15  that year at the institution.  A participant in the optional
   1-16  retirement program shall contribute 6.65 percent of the person's
   1-17  annual compensation.
   1-18        (b)  Contributions required by this section shall be credited
   1-19  to the benefit of the participant.
   1-20        (c)  In this section, "annual compensation" has the meaning
   1-21  assigned to that term by Section 821.001(4).
   1-22        (d)  In this section, "institution of higher education" has
   1-23  the meaning assigned to that term by Section 61.003, Education
    2-1  Code.
    2-2        SECTION 2.  This Act takes effect September 1, 1995.
    2-3        SECTION 3.  The importance of this legislation and the
    2-4  crowded condition of the calendars in both houses create an
    2-5  emergency and an imperative public necessity that the
    2-6  constitutional rule requiring bills to be read on three several
    2-7  days in each house be suspended, and this rule is hereby suspended.