Texas § GV.2108.103 - RETENTION OF FUNDS

§ GV.2108.103. RETENTION OF FUNDS

RETENTION OF FUNDS. (a) The affected agency retains one-half of the amount of savings verified by the comptroller. (b) Savings retained under this section may only be appropriated by the legislature to the affected agency. The agency may spend the savings only on an activity or expense that does not: (1) create new or expanded services; or (2) require ongoing funding at a later date. (c) Of the savings retained by the agency, one-half: (1) must be used to make additional principal payments for general obligation bonds issued by the agency or on behalf of the agency by the Texas Public Finance Authority; or (2) if there are no outstanding general obligation bonds issued by the agency or on behalf of the agency by the Texas Public Finance Authority, may be used to provide bonuses, distributed equally, to each agency employee who: (A) is a current full-time equivalent employee of the agency; (B) worked for the agency as a full-time equivalent employee for the entire fiscal year in which the savings were realized; and (C) is directly responsible for or worked in a department, office, or other division within the agency that is responsible for the savings realized. (d) If the amount of agency savings verified under Section 2108.102 , expressed as a percentage of the total amount of undedicated general revenue derived from nonfederal sources appropriated to the agency for the fiscal year in which the savings were realized, is: (1) less than three percent, a bonus described by Subsection (c)(2) may not exceed $250; (2) at least three percent but less than five percent, a bonus described by Subsection (c)(2) may not exceed $500; (3) at least five percent but less than 10 percent, a bonus described by Subsection (c)(2) may not exceed $750; and (4) 10 percent or more, a bonus described by Subsection (c)(2) may not exceed $1,000. (e) A state agency may not provide a bonus under Subsection (c)(2) to an employee of the agency who serves in an upper management position, including the chief executive or chief administrator of the agency. (f) A state agency shall adopt rules to implement this section. Added by Acts 2003, 78th Leg., ch. 450, Sec. 1, eff. Sept. 1, 2003. Amended by: Acts 2017, 85th Leg., R.S., Ch. 411 (S.B. 132 ), Sec. 1, eff. September 1, 2017.