82R5235 SGA-F
By: Otto H.B. No. 738
A BILL TO BE ENTITLED
AN ACT
relating to the authority of the Teacher Retirement System of Texas
to invest in hedge funds.
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS:
SECTION 1. Section 825.3012(b), Government Code, is amended
to read as follows:
(b) Notwithstanding any provision of Section 825.301, not
more than 10 [five] percent of the value of the total investment
portfolio of the retirement system may be invested in hedge funds.
SECTION 2. 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, 2011.