By Cain                                                S.B. No. 557
       74R5544 GCH-D
                                 A BILL TO BE ENTITLED
    1-1                                AN ACT
    1-2  relating to the rate of state contributions to the Teacher
    1-3  Retirement System of Texas.
    1-4        BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS:
    1-5        SECTION 1.  Section 825.404(a), Government Code, is amended
    1-6  to read as follows:
    1-7        (a)  During each fiscal year, the state shall contribute to
    1-8  the retirement system an amount equal to 7.31 <eight> percent of
    1-9  the aggregate annual compensation of all members of the retirement
   1-10  system during that fiscal year.  The legislature may not
   1-11  appropriate contributions to the retirement system at a different
   1-12  rate.
   1-13        SECTION 2.  This Act takes effect September 1, 1995.
   1-14        SECTION 3.  The importance of this legislation and the
   1-15  crowded condition of the calendars in both houses create an
   1-16  emergency and an imperative public necessity that the
   1-17  constitutional rule requiring bills to be read on three several
   1-18  days in each house be suspended, and this rule is hereby suspended.