(a) An individual who is a state employee on the last workday before or the first workday after an optional holiday, or on both workdays, is entitled, except as provided by § 662.010, to a paid day off from working for a state agency on the holiday if:
(1) the holiday does not fall on a Saturday or Sunday;
(2) the employee agrees to give up, during the same fiscal year, a state holiday that:
(A) does not fall on a Saturday or Sunday; and
(B) the General Appropriations Act does not prohibit state agencies from observing; and
(3) the General Appropriations Act does not prohibit state agencies from observing the optional holiday.
(b) A state employee is entitled to a paid day off from working for a state agency on each day of an optional holiday that extends for more than one day if the employee:
(1) qualifies for the paid day off under Subsection (a); and
(2) agrees to give up during the same fiscal year an equivalent number of state holidays that:
(A) do not fall on a Saturday or Sunday; and
(B) the General Appropriations Act does not prohibit state agencies from observing.