| 1 | 1 | | 84R6922 TSR-D |
|---|
| 2 | 2 | | By: Anderson of Dallas H.B. No. 1400 |
|---|
| 3 | 3 | | |
|---|
| 4 | 4 | | |
|---|
| 5 | 5 | | A BILL TO BE ENTITLED |
|---|
| 6 | 6 | | AN ACT |
|---|
| 7 | 7 | | relating to the investment training requirement for certain local |
|---|
| 8 | 8 | | government officers. |
|---|
| 9 | 9 | | BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: |
|---|
| 10 | 10 | | SECTION 1. Section 2256.008(a), Government Code, is amended |
|---|
| 11 | 11 | | to read as follows: |
|---|
| 12 | 12 | | (a) Except as provided by Subsections (b) and (e), the |
|---|
| 13 | 13 | | treasurer, the chief financial officer if the treasurer is not the |
|---|
| 14 | 14 | | chief financial officer, and the investment officer of a local |
|---|
| 15 | 15 | | government shall: |
|---|
| 16 | 16 | | (1) attend at least one training session from an |
|---|
| 17 | 17 | | independent source approved by the governing body of the local |
|---|
| 18 | 18 | | government or a designated investment committee advising the |
|---|
| 19 | 19 | | investment officer as provided for in the investment policy of the |
|---|
| 20 | 20 | | local government and containing at least 10 hours of instruction |
|---|
| 21 | 21 | | relating to the treasurer's or officer's responsibilities under |
|---|
| 22 | 22 | | this subchapter within 12 months after taking office or assuming |
|---|
| 23 | 23 | | duties; and |
|---|
| 24 | 24 | | (2) except as provided by Subsections (b) and (e), |
|---|
| 25 | 25 | | attend an investment training session not less than once in a |
|---|
| 26 | 26 | | two-year period that begins on the first day of that local |
|---|
| 27 | 27 | | government's fiscal year and consists of the two consecutive fiscal |
|---|
| 28 | 28 | | years after that date, and receive not less than six [10] hours of |
|---|
| 29 | 29 | | instruction relating to investment responsibilities under this |
|---|
| 30 | 30 | | subchapter from an independent source approved by the governing |
|---|
| 31 | 31 | | body of the local government or a designated investment committee |
|---|
| 32 | 32 | | advising the investment officer as provided for in the investment |
|---|
| 33 | 33 | | policy of the local government. |
|---|
| 34 | 34 | | SECTION 2. This Act takes effect September 1, 2015. |
|---|