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A BILL TO BE ENTITLED
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AN ACT
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relating to the allocation of certain funds designated for transfer |
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to the retired school employees group insurance fund. |
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BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: |
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SECTION 1. Sections 316.093(b) and (c), Government Code, |
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are amended to read as follows: |
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(b) If the sum described by Subsection (a) is less than the |
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sufficient balance adopted under Section 316.092, the comptroller |
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shall allocate any funds designated for transfer to the retired |
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school employees group insurance fund under Section 49-g(c-3), |
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Article III, Texas Constitution, to the economic stabilization |
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fund, reduce the allocation to the state highway fund provided by |
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Section 49-g(c), Article III, Texas Constitution, and increase the |
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allocation to the economic stabilization fund, in an equal amount, |
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until the sufficient balance adopted under Section 316.092 is |
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achieved. |
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(c) If under Section 316.092 a sufficient balance has not |
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been adopted for the comptroller to consider under this section, |
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the comptroller shall adjust the allocation of amounts to be |
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transferred to the economic stabilization fund, [and to] the state |
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highway fund, and the retired school employees group insurance |
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fund, if applicable, provided by Section 49-g(c), Article III, |
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Texas Constitution, so that the total of those amounts is |
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transferred to the economic stabilization fund, except that the |
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comptroller shall reduce a transfer made under this subsection as |
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necessary to prevent the amount in the fund from exceeding the limit |
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in effect for that biennium under Section 49-g(g) of that article. |
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SECTION 2. This Act takes effect January 1, 2018, but only |
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if the constitutional amendment proposed by the 85th Legislature, |
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1st Called Session, 2017, to allocate certain surplus state revenue |
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to the retired school employees group insurance fund is approved by |
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the voters. If that constitutional amendment is not approved by the |
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voters, this Act has no effect. |