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 Section 1575.204, Insurance Code, as effective June 1, 2003, is repealed.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.