80R8293 SGA-D
 
  By: Otto H.B. No. 2358
 
 
 
 
A BILL TO BE ENTITLED
AN ACT
relating to the deposit of certain employer contributions to the
Teacher Retirement System of Texas.
       BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS:
       SECTION 1.  Section 825.406(b), Government Code, is amended
to read as follows:
       (b)  When an employer receives money for state contributions
from an application made in accordance with Subsection (a), the
employer shall immediately send the money to the retirement system
for deposit in the state contribution account [general revenue fund
of the state treasury].
       SECTION 2.  Section 825.407(g), Government Code, is amended
to read as follows:
       (g)  The retirement system shall deposit [submit] all money
it receives under this section [to the comptroller of public
accounts for deposit] in the state contribution account [general
revenue fund].
       SECTION 3.  Section 1575.252, Insurance Code, is amended to
read as follows:
       Sec. 1575.252.  APPLICATION BY EMPLOYER FOR MONEY TO PAY
STATE CONTRIBUTIONS.  An employer who applies for money provided by
the United States or a privately sponsored source shall:
             (1)  if any of the money will pay part or all of an
active employee's salary, also apply for any legally available
money to pay state contributions required by Subchapter E; and
             (2)  immediately send any money received for state
contributions as a result of the application to the trustee for
deposit in the [general revenue] fund.
       SECTION 4.  The changes in law made by this Act to Sections
825.406 and 825.407, Government Code, and Section 1575.252,
Insurance Code, requiring that contributions be deposited in the
state contribution account and in the retired school employees
group insurance fund, respectively, instead of the general revenue
fund apply to a contribution received by the Teacher Retirement
System of Texas on or after the effective date of this Act.
       SECTION 5.  This Act takes effect September 1, 2007.