By: Bonnen of Galveston H.J.R. No. 143
A JOINT RESOLUTION
proposing a constitutional amendment to authorize the legislature
to vest the power to invest and manage certain public funds in
certain officers, boards, and entities.
BE IT RESOLVED BY THE LEGISLATURE OF THE STATE OF TEXAS:
SECTION 1. Article III, Texas Constitution, is amended by
adding a new Section 63 to read as follows:
Sec. 63. INVESTMENT AND MANAGEMENT OF PUBLIC FUNDS.
Notwithstanding any other provision in this constitution, the
legislature by law may vest the power to invest and manage any
public funds, including funds established by this constitution
other than the fund established under Article VII, Section 11, in
any public officer of this state, a board composed of public
officers of this state, or an entity that is governed by appointees
of public officers of this state.
SECTION 2. This proposed constitutional amendment shall be
submitted to the voters at an election to be held November 5, 2019.
The ballot shall be printed to permit voting for or against the
proposition: "The constitutional amendment to authorize the
legislature to vest the power to invest and manage certain public
funds in public officers, boards composed of public officers, or
an
entity that is governed by appointees of public officers.