| |
| |
|
|
A BILL TO BE ENTITLED
|
|
|
AN ACT
|
|
|
relating to the annual interest rate of the Texas County and |
|
|
District Retirement System. |
|
|
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: |
|
|
SECTION 1. Section 845.314, Government Code, is amended to |
|
|
read as follows: |
|
|
Sec. 845.314. INTEREST RATES. Unless this subtitle |
|
|
expressly states another specified rate of interest, for periods |
|
|
beginning after December 31, 2013 [1996], the annual rate of |
|
|
interest is five [seven] percent. |
|
|
SECTION 2. 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, 2013. |