| 1 | | - | H.B. No. 1612 |
|---|
| 1 | + | By: Murphy (Senate Sponsor - Huffman) H.B. No. 1612 |
|---|
| 2 | + | (In the Senate - Received from the House April 11, 2019; |
|---|
| 3 | + | April 15, 2019, read first time and referred to Committee on |
|---|
| 4 | + | Administration; May 3, 2019, reported favorably by the following |
|---|
| 5 | + | vote: Yeas 4, Nays 0; May 3, 2019, sent to printer.) |
|---|
| 6 | + | Click here to see the committee vote |
|---|
| 4 | 10 | | AN ACT |
|---|
| 5 | 11 | | relating to the authority of the Teacher Retirement System of Texas |
|---|
| 6 | 12 | | to invest in certain hedge funds. |
|---|
| 7 | 13 | | BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: |
|---|
| 8 | 14 | | SECTION 1. Section 825.3012(b), Government Code, is amended |
|---|
| 9 | 15 | | to read as follows: |
|---|
| 10 | 16 | | (b) Notwithstanding any provision of Section 825.301, not |
|---|
| 11 | 17 | | more than 10 [five] percent of the value of the total investment |
|---|
| 12 | 18 | | portfolio of the retirement system may be invested in hedge funds. |
|---|
| 13 | 19 | | SECTION 2. Section 825.3012(b-1), Government Code, is |
|---|
| 14 | 20 | | repealed. |
|---|
| 15 | 21 | | SECTION 3. This Act takes effect immediately if it receives |
|---|
| 16 | 22 | | a vote of two-thirds of all the members elected to each house, as |
|---|
| 17 | 23 | | provided by Section 39, Article III, Texas Constitution. If this |
|---|
| 18 | 24 | | Act does not receive the vote necessary for immediate effect, this |
|---|
| 19 | 25 | | Act takes effect on the 91st day after the last day of the |
|---|
| 20 | 26 | | legislative session. |
|---|
| 21 | | - | ______________________________ ______________________________ |
|---|
| 22 | | - | President of the Senate Speaker of the House |
|---|
| 23 | | - | I certify that H.B. No. 1612 was passed by the House on April |
|---|
| 24 | | - | 10, 2019, by the following vote: Yeas 145, Nays 1, 1 present, not |
|---|
| 25 | | - | voting. |
|---|
| 26 | | - | ______________________________ |
|---|
| 27 | | - | Chief Clerk of the House |
|---|
| 28 | | - | I certify that H.B. No. 1612 was passed by the Senate on May |
|---|
| 29 | | - | 10, 2019, by the following vote: Yeas 31, Nays 0. |
|---|
| 30 | | - | ______________________________ |
|---|
| 31 | | - | Secretary of the Senate |
|---|
| 32 | | - | APPROVED: _____________________ |
|---|
| 33 | | - | Date |
|---|
| 34 | | - | _____________________ |
|---|
| 35 | | - | Governor |
|---|
| 27 | + | * * * * * |
|---|