Texas House Bill HB801

Texas 2009 - 81st Regular

• Out of House Committee: 5/2/09
• Voted on by House: 5/17/09

Caption

Relating to prohibiting the investment of the permanent university fund in certain business entities doing business in Sudan.

Impact

The passage of HB 801 would amend Chapter 66 of the Education Code, adding specific provisions that regulate the PUF's investment portfolio. This entails the implementation of criteria that exclude investment opportunities in businesses linked to Sudan, potentially affecting the financial performance of the university fund. The bill aims to enhance accountability within the PUF rather than merely focusing on economic returns, thereby inviting a debate on the balance between ethical considerations and fiscal responsibility.

Summary

House Bill 801 aims to prohibit the investment of the Permanent University Fund (PUF) in certain business entities that operate in Sudan. This legislative measure is a reaffirmation of prior legislative findings from 2007, underscoring a continued commitment to socially responsible investment practices. By targeting investments in companies connected with Sudan, the bill reflects an alignment with broader ethical concerns related to human rights and geopolitical accountability.

Contention

Notably, discussions surrounding the bill may bring up points of contention regarding the implications of such restrictions on investment strategies. Opponents could argue that these limitations may hinder the PUF's growth and its ability to fund higher education adequately, while supporters may defend that ethical investing aligns with the values held by state legislators and Texas citizens. As the bill progresses through legislative committees and potential voting procedures, ongoing debates will likely focus on the ramifications of enforcing these investment restrictions.