Texas Government Code 2108.103 – Retention of Funds
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(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.
Terms Used In Texas Government Code 2108.103
- Comptroller: means the state comptroller of public accounts. See Texas Government Code 312.011
- Fiscal year: The fiscal year is the accounting period for the government. For the federal government, this begins on October 1 and ends on September 30. The fiscal year is designated by the calendar year in which it ends; for example, fiscal year 2006 begins on October 1, 2005 and ends on September 30, 2006.
- Obligation: An order placed, contract awarded, service received, or similar transaction during a given period that will require payments during the same or a future period.
- Year: means 12 consecutive months. See Texas Government Code 311.005
(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.