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A BILL TO BE ENTITLED
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AN ACT
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relating to adjustment for districts required to participate in |
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social security |
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BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: |
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SECTION 1. Subchapter E, Chapter |
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42, Education Code, is |
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amended by adding Section 42.2529 to read as follows: |
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Sec. 42.2529. For purposes of Chapters 41, 46, and this |
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chapter, a school district that is required to provide social |
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security coverage, as defined by Section 606.001, Government Code, |
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for district employees before January 1, 2017, shall have its |
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taxable wealth reduced by the percentage of the district's |
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contribution to social security. |