| 1 | | - | By: Kacal (Senate Sponsor - Schwertner) H.B. No. 1148 |
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| 2 | | - | (In the Senate - Received from the House April 20, 2015; |
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| 3 | | - | April 30, 2015, read first time and referred to Committee on |
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| 4 | | - | Intergovernmental Relations; May 11, 2015, reported favorably by |
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| 5 | | - | the following vote: Yeas 6, Nays 0; May 11, 2015, sent to printer.) |
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| 6 | | - | Click here to see the committee vote |
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| 1 | + | H.B. No. 1148 |
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| 10 | 4 | | AN ACT |
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| 11 | 5 | | relating to the investment training requirement for certain |
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| 12 | 6 | | municipal officers. |
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| 13 | 7 | | BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: |
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| 14 | 8 | | SECTION 1. Section 2256.008, Government Code, is amended by |
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| 15 | 9 | | amending Subsection (a) and adding Subsection (f) to read as |
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| 16 | 10 | | follows: |
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| 17 | 11 | | (a) Except as provided by Subsections (b) and (e), the |
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| 18 | 12 | | treasurer, the chief financial officer if the treasurer is not the |
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| 19 | 13 | | chief financial officer, and the investment officer of a local |
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| 20 | 14 | | government shall: |
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| 21 | 15 | | (1) attend at least one training session from an |
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| 22 | 16 | | independent source approved by the governing body of the local |
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| 23 | 17 | | government or a designated investment committee advising the |
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| 24 | 18 | | investment officer as provided for in the investment policy of the |
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| 25 | 19 | | local government and containing at least 10 hours of instruction |
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| 26 | 20 | | relating to the treasurer's or officer's responsibilities under |
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| 27 | 21 | | this subchapter within 12 months after taking office or assuming |
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| 28 | 22 | | duties; and |
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| 29 | 23 | | (2) except as provided by Subsections (b), [and] (e), |
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| 30 | 24 | | and (f), attend an investment training session not less than once in |
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| 31 | 25 | | a two-year period that begins on the first day of that local |
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| 32 | 26 | | government's fiscal year and consists of the two consecutive fiscal |
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| 33 | 27 | | years after that date, and receive not less than 10 hours of |
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| 34 | 28 | | instruction relating to investment responsibilities under this |
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| 35 | 29 | | subchapter from an independent source approved by the governing |
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| 36 | 30 | | body of the local government or a designated investment committee |
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| 37 | 31 | | advising the investment officer as provided for in the investment |
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| 38 | 32 | | policy of the local government. |
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| 39 | 33 | | (f) Subsection (a)(2) does not apply to an officer of a |
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| 40 | 34 | | municipality if the municipality: |
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| 41 | 35 | | (1) does not invest municipal funds; or |
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| 42 | 36 | | (2) only deposits municipal funds in: |
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| 43 | 37 | | (A) interest-bearing deposit accounts; or |
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| 44 | 38 | | (B) certificates of deposit as authorized by |
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| 45 | 39 | | Section 2256.010. |
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| 46 | 40 | | SECTION 2. This Act takes effect September 1, 2015. |
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| 47 | | - | * * * * * |
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| 41 | + | ______________________________ ______________________________ |
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| 42 | + | President of the Senate Speaker of the House |
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| 43 | + | I certify that H.B. No. 1148 was passed by the House on April |
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| 44 | + | 16, 2015, by the following vote: Yeas 146, Nays 0, 2 present, not |
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| 45 | + | voting. |
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| 46 | + | ______________________________ |
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| 47 | + | Chief Clerk of the House |
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| 48 | + | I certify that H.B. No. 1148 was passed by the Senate on May |
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| 49 | + | 15, 2015, by the following vote: Yeas 31, Nays 0. |
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| 50 | + | ______________________________ |
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| 51 | + | Secretary of the Senate |
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| 52 | + | APPROVED: _____________________ |
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| 53 | + | Date |
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| 54 | + | _____________________ |
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| 55 | + | Governor |
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