By: Estes S.B. No. 1704
A BILL TO BE ENTITLED
AN ACT
relating to the composition of the Finance Commission of Texas.
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS:
SECTION 1. Subsections (a) and (b), Section 11.101, Finance
Code, are amended to read as follows:
(a) The Finance Commission of Texas is composed of 11 [nine]
members appointed by the governor with the advice and consent of the
senate.
(b) Members of the finance commission serve staggered
six-year terms, with as near as possible to [of six years with the
terms of] one-third of the members' terms [members] expiring
February 1 of each even-numbered year.
SECTION 2. Subsections (b) and (c), Section 11.102, Finance
Code, are amended to read as follows:
(b) Two members [One member] of the finance commission must
be [a] banking executives [executive], one member of the finance
commission must be a savings executive, one member of the finance
commission must be a consumer credit executive, and one member of
the finance commission must be a mortgage broker.
(c) Six [Five] members of the finance commission must be
representatives of the general public. At least one of those
members must be a certified public accountant.
SECTION 3. As soon as practicable after the effective date
of this Act, the governor shall appoint two additional members to
the Finance Commission of Texas. In appointing those members, the
governor shall appoint one person to a term expiring February 1,
2012, and one person to a term expiring February 1, 2014.
SECTION 4. This Act takes effect immediately if it receives
a vote of two-thirds of all the members elected to each house, as
provided by Section 39, Article III, Texas Constitution. If this
Act does not receive the vote necessary for immediate effect, this
Act takes effect September 1, 2009.