By:  Armbrister                                       S.B. No. 1460

         Line and page numbers may not match official copy.

         Bill not drafted by TLC or Senate E&E.

                                A BILL TO BE ENTITLED

                                       AN ACT

 1-1     relating to the designation of excess benefit plans.

 1-2           BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS:

 1-3           SECTION 1.  Section 830.004, Texas Government Code, is

 1-4     amended by adding new Subsection (c) to read as follows:

 1-5           (c)  An institution of higher education may established a

 1-6     qualified governmental excess benefit arrangement as provided in

 1-7     Section 415(m) of the Internal Revenue Code of 1986 as amended, for

 1-8     the purpose of providing to participants in the optional retirement

 1-9     program that part of the participant's benefits otherwise payable

1-10     under the terms of the optional retirement program, except for the

1-11     limitation imposed by Section 415 of the Internal Revenue Code of

1-12     1986 as amended.  The governing board of an institution of higher

1-13     education may take such action as necessary to develop a qualified

1-14     governmental excess benefit arrangement as provided in this

1-15     section.

1-16           SECTION 2.  The importance of this legislation and the

1-17     crowded condition of the calendars in both houses create an

1-18     emergency and an imperative public necessity that the

1-19     constitutional rule requiring bills to be read on three several

1-20     days in each house be suspended, and this rule is hereby suspended,

1-21     and that this Act take effect and be in force from and after its

 2-1     passage, and it is so enacted.