| 1 | 1 | | H.B. No. 2656 |
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| 2 | 2 | | |
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| 3 | 3 | | |
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| 4 | 4 | | AN ACT |
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| 5 | 5 | | relating to the composition of the board of trustees of the Teacher |
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| 6 | 6 | | Retirement System of Texas. |
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| 7 | 7 | | BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: |
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| 8 | 8 | | SECTION 1. Sections 825.002(a) and (d), Government Code, |
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| 9 | 9 | | are amended to read as follows: |
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| 10 | 10 | | (a) The governor shall appoint, with the advice and consent |
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| 11 | 11 | | of the senate and as provided by this section, eight [seven] members |
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| 12 | 12 | | of the board of trustees. |
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| 13 | 13 | | (d) The governor shall appoint two members [one member] of |
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| 14 | 14 | | the board from a slate of three former members of the retirement |
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| 15 | 15 | | system who have retired and are receiving benefits from the |
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| 16 | 16 | | retirement system and who have been nominated in accordance with |
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| 17 | 17 | | Subsections (f) and (g) by the persons who have retired and are |
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| 18 | 18 | | receiving benefits from the retirement system. The two members |
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| 19 | 19 | | hold office for staggered terms. |
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| 20 | 20 | | SECTION 2. Section 825.003, Government Code, is amended to |
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| 21 | 21 | | read as follows: |
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| 22 | 22 | | Sec. 825.003. TRUSTEES APPOINTED BY GOVERNOR FROM NOMINEES |
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| 23 | 23 | | OF BOARD OF EDUCATION. The governor shall appoint one member [two |
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| 24 | 24 | | members] of the board of trustees, subject to confirmation by |
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| 25 | 25 | | two-thirds of the senate, from lists of nominees submitted by the |
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| 26 | 26 | | State Board of Education. The member appointed under this section |
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| 27 | 27 | | [These members] must be a person [persons] who has [have] |
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| 28 | 28 | | demonstrated financial expertise, has [have] worked in private |
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| 29 | 29 | | business or industry, and has [have] broad investment experience, |
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| 30 | 30 | | preferably in investment of pension funds. |
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| 31 | 31 | | SECTION 3. Sections 825.010(a) and (c), Government Code, |
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| 32 | 32 | | are amended to read as follows: |
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| 33 | 33 | | (a) It is a ground for removal from the board of trustees |
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| 34 | 34 | | that a trustee: |
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| 35 | 35 | | (1) does not have at the time of taking office the |
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| 36 | 36 | | qualifications required for the trustee's position; |
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| 37 | 37 | | (2) does not maintain during service on the board the |
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| 38 | 38 | | qualifications required for the trustee's position; |
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| 39 | 39 | | (3) violates a prohibition established by Section |
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| 40 | 40 | | 825.002(b) or 825.0032 applicable to the trustee; |
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| 41 | 41 | | (4) cannot because of illness or disability discharge |
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| 42 | 42 | | the trustee's duties for a substantial part of the term for which |
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| 43 | 43 | | the trustee is appointed; or |
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| 44 | 44 | | (5) is absent from more than half of the regularly |
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| 45 | 45 | | scheduled board meetings that the person is eligible to attend |
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| 46 | 46 | | during a calendar year without an excuse approved by a majority vote |
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| 47 | 47 | | of the board. |
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| 48 | 48 | | (c) If the executive director has knowledge that a potential |
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| 49 | 49 | | ground for removal exists, the executive director shall notify the |
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| 50 | 50 | | presiding officer of the board of trustees of the ground. The |
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| 51 | 51 | | presiding officer shall then notify the governor [appropriate |
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| 52 | 52 | | appointing officer] and the attorney general that a potential |
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| 53 | 53 | | ground for removal exists. If the potential ground for removal |
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| 54 | 54 | | involves the presiding officer, the executive director shall notify |
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| 55 | 55 | | the next highest officer of the board, who shall notify the governor |
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| 56 | 56 | | [appropriate appointing officer] and the attorney general that a |
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| 57 | 57 | | potential ground for removal exists. |
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| 58 | 58 | | SECTION 4. (a) This Act applies only to the appointment of |
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| 59 | 59 | | a trustee of the board of trustees of the Teacher Retirement System |
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| 60 | 60 | | of Texas that occurs on or after the effective date of this Act. |
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| 61 | 61 | | (b) A person who is serving as a trustee immediately before |
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| 62 | 62 | | the effective date of this Act may complete the trustee's term of |
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| 63 | 63 | | office, and the trustee's qualifications for serving as a trustee |
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| 64 | 64 | | are governed by the law in effect immediately before the effective |
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| 65 | 65 | | date of this Act until the date that trustee's term expires. |
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| 66 | 66 | | SECTION 5. This Act takes effect September 1, 2009. |
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| 67 | 67 | | ______________________________ ______________________________ |
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| 68 | 68 | | President of the Senate Speaker of the House |
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| 69 | 69 | | I certify that H.B. No. 2656 was passed by the House on May |
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| 70 | 70 | | 11, 2009, by the following vote: Yeas 147, Nays 0, 2 present, not |
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| 71 | 71 | | voting; and that the House concurred in Senate amendments to H.B. |
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| 72 | 72 | | No. 2656 on May 29, 2009, by the following vote: Yeas 140, Nays 0, |
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| 73 | 73 | | 1 present, not voting. |
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| 74 | 74 | | ______________________________ |
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| 75 | 75 | | Chief Clerk of the House |
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| 76 | 76 | | I certify that H.B. No. 2656 was passed by the Senate, with |
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| 77 | 77 | | amendments, on May 26, 2009, by the following vote: Yeas 31, Nays |
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| 78 | 78 | | 0. |
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| 79 | 79 | | ______________________________ |
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| 80 | 80 | | Secretary of the Senate |
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| 81 | 81 | | APPROVED: __________________ |
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| 82 | 82 | | Date |
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| 83 | 83 | | __________________ |
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| 84 | 84 | | Governor |
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