78R9120 T
By: Pitts H.B. No. 3173
A BILL TO BE ENTITLED
AN ACT
relating to the group benefits program operated by the Teacher
Retirement System of Texas.
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS:
SECTION 1. Section 1575.203(a), Insurance Code, as
effective June 1, 2003, is amended to read as follows:
(a) Each state fiscal year, each active employee shall, as a
condition of employment, contribute to the fund an amount equal to
0.75 [0.25] percent of the employee's salary.
SECTION 2. Subchapter E, Chapter 1575, Insurance Code, as
effective June 1, 2003, is amended by adding Section 1575.2041 to
read as follows:
Sec. 1575.2041. SCHOOL DISTRICT CONTRIBUTION BASED ON TAX
RATE. Each state fiscal year, all school districts shall
contribute to the fund an amount equal to 0.5 percent of the salary
of each active employee employed by the district.
SECTION 3. Section 2(c), Article 3.50-8, Insurance Code, is
amended to read as follows:
(c) The trustee shall distribute funds under this article in
equal monthly installments. Beginning September 1, 2003, the
monthly installments are payable during the first week of the month
following the month in which the active employees were employed.
The trustee is entitled to recover from a school district, other
educational district, participating charter school, or regional
education service center any amount distributed under this article
to which the district, school, or service center was not entitled.
SECTION 4. Section 1575.204, Insurance Code, as effective
June 1, 2003, is repealed.
SECTION 5. To the extent of any conflict, this Act prevails
over another Act of the 78th Legislature, Regular Session, 2003,
relating to nonsubstantive additions to and corrections in enacted
codes.
SECTION 6. This Act takes effect immediately if it receives
a vote of two-thirds of all the members elected to each house, as
provided by Section 39, Article III, Texas Constitution. If this
Act does not receive the vote necessary for immediate effect, this
Act takes effect September 1, 2003.