During the Senate Finance Committee hearing on Monday, the LBB presented a summary of Legislative Budget Board Budget and Policy Recommendations for the 2012-13 Biennium.
During the presentation the following selected statutory changes embedded in the budget bill were pointed out:
- Teacher Retirement System –reduce state contribution to 6%.
- TRS-Care –reduce state contribution rate to 0.5%.
- Repeal prohibition of managed care in South Texas.
- Eliminate insurance premium tax credit for exam fees and overhead assessments.
- Reduce school finance formula entitlements by 13%.
It was also noted the following tools were not considered in the LBB budget recommendations: Appropriations from Economic Stabilization Fund, Spending deferrals, and Certain LBB Government Effectiveness and Efficiency Report (GEER) recommendations.
For a complete copy of the presentation: http://www.lbb.state.tx.us/Senate_Finance/SFC_Presentation_Recs_013111.pdf