| 1 | 1 | | By: Estes S.B. No. 1704 |
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| 2 | 2 | | |
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| 3 | 3 | | |
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| 4 | 4 | | A BILL TO BE ENTITLED |
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| 5 | 5 | | AN ACT |
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| 6 | 6 | | relating to the composition of the Finance Commission 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. Subsections (a) and (b), Section 11.101, Finance |
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| 9 | 9 | | Code, are amended to read as follows: |
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| 10 | 10 | | (a) The Finance Commission of Texas is composed of 11 [nine] |
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| 11 | 11 | | members appointed by the governor with the advice and consent of the |
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| 12 | 12 | | senate. |
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| 13 | 13 | | (b) Members of the finance commission serve staggered |
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| 14 | 14 | | six-year terms, with as near as possible to [of six years with the |
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| 15 | 15 | | terms of] one-third of the members' terms [members] expiring |
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| 16 | 16 | | February 1 of each even-numbered year. |
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| 17 | 17 | | SECTION 2. Subsections (b) and (c), Section 11.102, Finance |
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| 18 | 18 | | Code, are amended to read as follows: |
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| 19 | 19 | | (b) Two members [One member] of the finance commission must |
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| 20 | 20 | | be [a] banking executives [executive], one member of the finance |
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| 21 | 21 | | commission must be a savings executive, one member of the finance |
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| 22 | 22 | | commission must be a consumer credit executive, and one member of |
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| 23 | 23 | | the finance commission must be a mortgage broker. |
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| 24 | 24 | | (c) Six [Five] members of the finance commission must be |
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| 25 | 25 | | representatives of the general public. At least one of those |
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| 26 | 26 | | members must be a certified public accountant. |
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| 27 | 27 | | SECTION 3. As soon as practicable after the effective date |
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| 28 | 28 | | of this Act, the governor shall appoint two additional members to |
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| 29 | 29 | | the Finance Commission of Texas. In appointing those members, the |
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| 30 | 30 | | governor shall appoint one person to a term expiring February 1, |
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| 31 | 31 | | 2012, and one person to a term expiring February 1, 2014. |
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| 32 | 32 | | SECTION 4. This Act takes effect immediately if it receives |
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| 33 | 33 | | a vote of two-thirds of all the members elected to each house, as |
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| 34 | 34 | | provided by Section 39, Article III, Texas Constitution. If this |
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| 35 | 35 | | Act does not receive the vote necessary for immediate effect, this |
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| 36 | 36 | | Act takes effect September 1, 2009. |
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