81R8921 JRD-D
By: Villarreal H.B. No. 3361
A BILL TO BE ENTITLED
AN ACT
relating to a study by the comptroller on the use of call options by
state government as a hedge against inflation in the cost of
commodities purchased by state government.
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS:
SECTION 1. Subchapter B, Chapter 2155, Government Code, is
amended by adding Section 2155.0615 to read as follows:
Sec. 2155.0615. STUDY ON USE OF CALL OPTIONS. (a) The
comptroller shall conduct a study on the feasibility and
advisability of the use of call options by state government as a
hedge against the possibility of dramatic inflation in the cost of
commodities purchased by state government.
(b) The study must address the costs, potential cost
savings, and risks involved in the use by state government of call
options for purchased commodities and the conditions under which
the use of call options would and would not be advisable.
(c) The comptroller shall complete the study and make the
results of the study available electronically not later than
January 2, 2011.
(d) This section expires September 1, 2011.
SECTION 2. This Act takes effect September 1, 2009.