Texas 2015 - 84th Regular

Texas House Bill HB236 Compare Versions

Only one version of the bill is available at this time.

Old	New	Differences
1	1	84R774 CJC-D
2	2	By: Krause H.B. No. 236
3	3
4	4
5	5	A BILL TO BE ENTITLED
6	6	AN ACT
7	7	relating to the creation of the Fiscal Risk Management Commission.
8	8	BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS:
9	9	SECTION 1. Subtitle C, Title 10, Government Code, is
10	10	amended by adding Chapter 2117 to read as follows:
11	11	CHAPTER 2117. FISCAL RISK MANAGEMENT COMMISSION
12	12	Sec. 2117.001. DEFINITIONS. In this chapter:
13	13	(1) "Commission" means the Fiscal Risk Management
14	14	Commission.
15	15	(2) "State agency" means a board, commission,
16	16	department, office, or other agency in the executive branch of
17	17	state government created by the constitution or a statute of this
18	18	state, including an institution of higher education as defined by
19	19	Section 61.003, Education Code.
20	20	Sec. 2117.002. COMPOSITION. (a) The commission is
21	21	composed of the following seven members:
22	22	(1) the comptroller;
23	23	(2) the state auditor;
24	24	(3) the speaker of the house of representatives or a
25	25	member of the house of representatives designated by the speaker;
26	26	(4) the lieutenant governor or a member of the senate
27	27	designated by the lieutenant governor; and
28	28	(5) three members of the public, appointed by the
29	29	governor, who have experience with state and federal fiscal policy
30	30	and budgetary analysis.
31	31	(b) The comptroller shall serve as the presiding officer of
32	32	the commission.
33	33	(c) Public members serve at the pleasure of the governor.
34	34	Sec. 2117.003. COMPENSATION. A member of the commission
35	35	serves without compensation but is entitled to reimbursement for
36	36	actual expenses incurred in performing functions as a member of the
37	37	commission, subject to any applicable limitation on reimbursement
38	38	provided by general law or the General Appropriations Act.
39	39	Sec. 2117.004. COMMISSION DUTIES. (a) The commission
40	40	shall:
41	41	(1) meet at least once each year at the call of the
42	42	presiding officer; and
43	43	(2) study:
44	44	(A) the effect of federal fiscal policy on this
45	45	state's economy, including:
46	46	(i) the percentage of this state's budget
47	47	currently funded by federal money and the effect that a significant
48	48	reduction or elimination of federal funding for state governments
49	49	would have on this state's economy;
50	50	(ii) the effect of a political or
51	51	market-led default on the United States' debt obligations on this
52	52	state's economy; and
53	53	(iii) the amount of money earned in this
54	54	state that is transferred to the federal government as compared to
55	55	the amount of federal money received by this state from the federal
56	56	government, and the effect of those transfers on businesses in this
57	57	state;
58	58	(B) the amount of federal money received by each
59	59	agency of this state, and the effect that a significant reduction or
60	60	elimination of federal funding for state governments would have on
61	61	the continuing operation of, and the delivery of critical services
62	62	by, each of those agencies;
63	63	(C) the effect of the devaluation of the United
64	64	States dollar on this state's economy, including an examination of:
65	65	(i) the effect of a gradual devaluation, a
66	66	loss of reserve currency status, or an outright collapse of the
67	67	United States dollar on this state's economy; and
68	68	(ii) the advisability of developing a
69	69	contingency currency;
70	70	(D) the risks presented by acts of economic
71	71	terrorism, including:
72	72	(i) the effect of power outages caused by
73	73	acts of cyberterrorism, including an electromagnetic pulse, on
74	74	financial markets and critical infrastructure in this state; and
75	75	(ii) the effect of an energy embargo or the
76	76	disruption of the food, water, or power supply chain on the ability
77	77	of this state and agencies of this state to continue to provide
78	78	critical services; and
79	79	(E) any other macroeconomic threat to this
80	80	state's economy the commission considers appropriate.
81	81	(b) In conducting the study required by this section, the
82	82	commission shall consult with and consider papers authored by
83	83	private entities specializing in fiscal risk management readiness
84	84	and response. The commission may not rely solely on papers authored
85	85	by institutions of higher education.
86	86	Sec. 2117.005. FISCAL RISK MANAGEMENT PLAN. The commission
87	87	biennially shall develop and publish a cohesive and in-depth plan
88	88	to effectively and efficiently address the effects and risks
89	89	identified by the commission in conducting the study required by
90	90	Section 2117.004.
91	91	Sec. 2117.006. REPORT. (a) Not later than September 1 of
92	92	the even-numbered year preceding each regular session of the
93	93	legislature, the commission shall submit a report based on the
94	94	commission's findings under Section 2117.004 during the previous
95	95	two-year period to the governor and the legislature.
96	96	(b) The report must include:
97	97	(1) a complete explanation of the methods used by the
98	98	commission in conducting the financial analysis required by the
99	99	study;
100	100	(2) a summary of the commission's findings under
101	101	Section 2117.004 and a copy of the plan created under Section
102	102	2117.005; and
103	103	(3) drafts of any proposed legislation needed to
104	104	implement the commission's recommendations.
105	105	(c) The first report due under this section must include a
106	106	thorough evaluation of this state's need to develop a contingency
107	107	currency in the event of a collapse of the United States dollar.
108	108	SECTION 2. (a) Not later than the 60th day after the
109	109	effective date of this Act, the governor and, if applicable, the
110	110	speaker of the house of representatives and the lieutenant governor
111	111	shall make the appointments and designations under Chapter 2117,
112	112	Government Code, as added by this Act.
113	113	(b) The Fiscal Risk Management Commission shall submit the
114	114	first report required by Section 2117.006, Government Code, as
115	115	added by this Act, not later than September 1, 2016.
116	116	SECTION 3. This Act takes effect immediately if it receives
117	117	a vote of two-thirds of all the members elected to each house, as
118	118	provided by Section 39, Article III, Texas Constitution. If this
119	119	Act does not receive the vote necessary for immediate effect, this
120	120	Act takes effect September 1, 2015.