85R19241 JAM-F
By: VanDeaver H.B. No. 1238
Substitute the following for H.B. No. 1238:
By: Alvarado C.S.H.B. No. 1238
A BILL TO BE ENTITLED
AN ACT
relating to investment training for officers of public housing
authorities.
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS:
SECTION 1. Section 2256.008(a), Government Code, as amended
by Chapters 222 (H.B. 1148) and 1248 (H.B. 870), Acts of the 84th
Legislature, Regular Session, 2015, is reenacted and amended to
read as follows:
(a) Except as provided by Subsections (a-1), (b), (b-1),
[and] (e), and (f), 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), (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.
SECTION 2. Section 2256.008, Government Code, is amended by
adding Subsection (b-1) and amending Subsection (f) to read as
follows:
(b-1) A housing authority created under Chapter 392, Local
Government Code, may satisfy the training requirement provided by
Subsection (a)(2) by requiring the following person to attend, in
each two-year period that begins on the first day of that housing
authority's fiscal year and consists of the two consecutive fiscal
years after that date, at least five hours of appropriate
instruction:
(1) the treasurer, or the chief financial officer if
the treasurer is not the chief financial officer, or the investment
officer; or
(2) if the authority does not have an officer
described by Subdivision (1), another officer of the authority.
(f) Subsection (a)(2) does not apply to an officer of a
municipality or housing authority if the municipality or housing
authority:
(1) does not invest municipal or housing authority
funds, as applicable; or
(2) only deposits those [municipal] funds in:
(A) interest-bearing deposit accounts; or
(B) certificates of deposit as authorized by
Section 2256.010.
SECTION 3. To the extent of any conflict, this Act prevails
over another Act of the 85th Legislature, Regular Session, 2017,
relating to nonsubstantive additions to and corrections in enacted
codes.
SECTION 4. This Act takes effect September 1, 2017.