By: Kacal (Senate Sponsor - Schwertner) H.B. No. 1148
(In the Senate - Received from the House April 20, 2015;
April 30, 2015, read first time and referred to Committee on
Intergovernmental Relations; May 11, 2015, reported favorably by
the following vote: Yeas 6, Nays 0; May 11, 2015, sent to printer.)
Click here to see the committee vote
A BILL TO BE ENTITLED
AN ACT
relating to the investment training requirement for certain
municipal officers.
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS:
SECTION 1. Section 2256.008, Government Code, is amended by
amending Subsection (a) and adding Subsection (f) to read as
follows:
(a) Except as provided by Subsections (b) and (e), the
treasurer, the chief financial officer if the treasurer is not the
chief financial officer, and the investment officer of a local
government shall:
(1) attend at least one training session from an
independent source approved by the governing body of the local
government or a designated investment committee advising the
investment officer as provided for in the investment policy of the
local government and containing at least 10 hours of instruction
relating to the treasurer's or officer's responsibilities under
this subchapter within 12 months after taking office or assuming
duties; and
(2) except as provided by Subsections (b), [and] (e),
and (f), attend an investment training session not less than once in
a two-year period that begins on the first day of that local
government's fiscal year and consists of the two consecutive fiscal
years after that date, and receive not less than 10 hours of
instruction relating to investment responsibilities under this
subchapter from an independent source approved by the governing
body of the local government or a designated investment committee
advising the investment officer as provided for in the investment
policy of the local government.
(f) Subsection (a)(2) does not apply to an officer of a
municipality if the municipality:
(1) does not invest municipal funds; or
(2) only deposits municipal funds in:
(A) interest-bearing deposit accounts; or
(B) certificates of deposit as authorized by
Section 2256.010.
SECTION 2. This Act takes effect September 1, 2015.
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