Texas 2015 - 84th Regular

Texas House Bill HB1560 Compare Versions

Version 1 (Old)

Version 2 (New)

Old	New		Differences
1		-	By: Hernandez (Senate Sponsor - Ellis) H.B. No. 1560
2		-	(In the Senate - Received from the House April 27, 2015;
3		-	May 4, 2015, read first time and referred to Committee on State
4		-	Affairs; May 12, 2015, reported favorably by the following vote:
5		-	Yeas 9, Nays 0; May 12, 2015, sent to printer.)
6		-	Click here to see the committee vote
	1	+	H.B. No. 1560
7	2
8	3
9		-	COMMITTEE VOTE
10		-	YeaNayAbsentPNV
11		-	HuffmanX
12		-	EllisX
13		-	BirdwellX
14		-	CreightonX
15		-	EstesX
16		-	FraserX
17		-	NelsonX
18		-	SchwertnerX
19		-	ZaffiriniX
20		-	A BILL TO BE ENTITLED
21	4		AN ACT
22	5		relating to investment options for property recovered in a suit by a
23	6		next friend or guardian ad litem on behalf of a minor or
24	7		incapacitated person.
25	8		BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS:
26	9		SECTION 1. Section 142.004(a), Property Code, is amended to
27	10		read as follows:
28	11		(a) In a suit in which a minor or incapacitated person who
29	12		has no legal guardian is represented by a next friend or an
30	13		appointed guardian ad litem, any money recovered by the plaintiff,
31	14		if not otherwise managed under this chapter, may be invested:
32	15		(1) by the next friend or guardian ad litem in:
33	16		(A) a higher education savings plan established
34	17		under Subchapter G, Chapter 54, Education Code, or a prepaid
35	18		tuition program [the Texas tomorrow fund] established under [by]
36	19		Subchapter H [F], Chapter 54, Education Code; or
37	20		(B) interest-bearing time deposits in a
38	21		financial institution doing business in this state and insured by
39	22		the Federal Deposit Insurance Corporation; or
40	23		(2) by the clerk of the court, on written order of the
41	24		court of proper jurisdiction, in:
42	25		(A) a higher education savings plan established
43	26		under Subchapter G, Chapter 54, Education Code, or a prepaid
44	27		tuition program [the Texas tomorrow fund] established under [by]
45	28		Subchapter H [F], Chapter 54, Education Code;
46	29		(B) interest-bearing deposits in a financial
47	30		institution doing business in this state and insured by the Federal
48	31		Deposit Insurance Corporation;
49	32		(C) United States treasury bills;
50	33		(D) an eligible interlocal investment pool that
51	34		meets the requirements of Sections 2256.016, 2256.017, and
52	35		2256.019, Government Code; or
53	36		(E) a no-load money market mutual fund, if the
54	37		fund:
55	38		(i) is regulated by the Securities and
56	39		Exchange Commission;
57	40		(ii) has a dollar weighted average stated
58	41		maturity of 90 days or fewer; and
59	42		(iii) includes in its investment objectives
60	43		the maintenance of a stable net asset value of $1 for each share.
61	44		SECTION 2. This Act takes effect September 1, 2015.
62		-	* * * * *
	45	+	______________________________ ______________________________
	46	+	President of the Senate Speaker of the House
	47	+	I certify that H.B. No. 1560 was passed by the House on April
	48	+	23, 2015, by the following vote: Yeas 139, Nays 0, 2 present, not
	49	+	voting.
	50	+	______________________________
	51	+	Chief Clerk of the House
	52	+	I certify that H.B. No. 1560 was passed by the Senate on May
	53	+	20, 2015, by the following vote: Yeas 31, Nays 0.
	54	+	______________________________
	55	+	Secretary of the Senate
	56	+	APPROVED: _____________________
	57	+	Date
	58	+	_____________________
	59	+	Governor