Texas § GV.815.407 - LEGACY PAYMENTS

Full text of Texas The Texas Constitution § GV.815.407 — LEGACY PAYMENTS, with citation guidance and answers to common questions.

§ GV.815.407. LEGACY PAYMENTS

LEGACY PAYMENTS. (a) In addition to the state contributions required by this subtitle, each fiscal year the state shall make an actuarially determined payment in the amount necessary to amortize the system's unfunded actuarial liabilities by not later than the fiscal year ending August 31, 2054. (b) Before each regular legislative session, the retirement system shall provide the Legislative Budget Board with the amount necessary to make the actuarially determined payment required under Subsection (a). The director of the Legislative Budget Board, under the direction of the Legislative Budget Board, shall include that payment in the general appropriations bill prepared for introduction at each regular legislative session under Section 322.008 . This subsection expires September 1, 2055. Added by Acts 2021, 87th Leg., R.S., Ch. 940 (S.B. 321 ), Sec. 20, eff. September 1, 2021. SUBCHAPTER F. MISCELLANEOUS ADMINISTRATIVE PROCEDURES

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Frequently Asked Questions About Texas § GV.815.407

What does The Texas Constitution § GV.815.407 cover?

Section GV.815.407 ("LEGACY PAYMENTS") is part of the The Texas Constitution, the codified statutory law of Texas. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.

How do I cite Texas § GV.815.407?

A common citation format is "The Texas Constitution § GV.815.407" (Texas). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.

Is this the official text of Texas law?

No. This page is for research and education and may not include the most recent amendments. For official current law, check the Texas official source linked on this page or consult a licensed Texas attorney.

How does Texas § GV.815.407 apply to my situation?

Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Texas can advise on how this section applies to you. Contact your state or local bar association for a referral.

Sources & Verification

Not legal advice. Verify against the official source and consult a licensed attorney in Texas.