| 1 | 1 | | 87R214 KFF-D |
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| 2 | 2 | | By: White H.B. No. 1665 |
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| 3 | 3 | | |
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| 4 | 4 | | |
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| 5 | 5 | | A BILL TO BE ENTITLED |
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| 6 | 6 | | AN ACT |
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| 7 | 7 | | relating to the development and maintenance by the Employees |
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| 8 | 8 | | Retirement System of Texas and the Teacher Retirement System of |
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| 9 | 9 | | Texas of an online investment tracking database. |
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| 10 | 10 | | BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: |
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| 11 | 11 | | SECTION 1. Subchapter D, Chapter 815, Government Code, is |
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| 12 | 12 | | amended by adding Section 815.3014 to read as follows: |
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| 13 | 13 | | Sec. 815.3014. ONLINE INVESTMENT TRACKING DATABASE. (a) |
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| 14 | 14 | | In this section: |
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| 15 | 15 | | (1) "Foreign business entity" means a business entity |
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| 16 | 16 | | formed under, and the internal affairs of which are governed by, the |
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| 17 | 17 | | laws of a foreign jurisdiction. |
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| 18 | 18 | | (2) "Foreign jurisdiction" means a country or other |
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| 19 | 19 | | jurisdiction that is not the United States or a state of the United |
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| 20 | 20 | | States. |
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| 21 | 21 | | (b) Subject to Section 815.503 and Chapter 552, including |
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| 22 | 22 | | Sections 552.0225, 552.110, 552.1101, and 552.143, and other |
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| 23 | 23 | | applicable federal and state law, the retirement system shall |
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| 24 | 24 | | develop and maintain on the system's Internet website a publicly |
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| 25 | 25 | | searchable investment tracking database that allows the public to |
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| 26 | 26 | | view and search how and where the system's funds are invested. The |
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| 27 | 27 | | database must, to the extent possible, detail the information |
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| 28 | 28 | | described by Section 552.0225(b) with respect to each investment, |
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| 29 | 29 | | including investments in securities issued by foreign business |
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| 30 | 30 | | entities. |
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| 31 | 31 | | SECTION 2. Subchapter D, Chapter 825, Government Code, is |
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| 32 | 32 | | amended by adding Section 825.3014 to read as follows: |
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| 33 | 33 | | Sec. 825.3014. ONLINE INVESTMENT TRACKING DATABASE. (a) |
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| 34 | 34 | | In this section: |
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| 35 | 35 | | (1) "Foreign business entity" means a business entity |
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| 36 | 36 | | formed under, and the internal affairs of which are governed by, the |
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| 37 | 37 | | laws of a foreign jurisdiction. |
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| 38 | 38 | | (2) "Foreign jurisdiction" means a country or other |
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| 39 | 39 | | jurisdiction that is not the United States or a state of the United |
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| 40 | 40 | | States. |
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| 41 | 41 | | (b) Subject to Section 825.507 and Chapter 552, including |
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| 42 | 42 | | Sections 552.0225, 552.110, 552.1101, and 552.143, and other |
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| 43 | 43 | | applicable federal and state law, the retirement system shall |
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| 44 | 44 | | develop and maintain on the system's Internet website a publicly |
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| 45 | 45 | | searchable investment tracking database that allows the public to |
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| 46 | 46 | | view and search how and where the system's funds are invested. The |
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| 47 | 47 | | database must, to the extent possible, detail the information |
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| 48 | 48 | | described by Section 552.0225(b) with respect to each investment, |
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| 49 | 49 | | including investments in securities issued by foreign business |
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| 50 | 50 | | entities. |
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| 51 | 51 | | SECTION 3. As soon as practicable after the effective date |
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| 52 | 52 | | of this Act: |
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| 53 | 53 | | (1) the Employees Retirement System of Texas shall |
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| 54 | 54 | | develop and publish on the system's Internet website the investment |
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| 55 | 55 | | tracking database required under Section 815.3014, Government |
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| 56 | 56 | | Code, as added by this Act; and |
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| 57 | 57 | | (2) the Teacher Retirement System of Texas shall |
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| 58 | 58 | | develop and publish on the system's Internet website the investment |
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| 59 | 59 | | tracking database required under Section 825.3014, Government |
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| 60 | 60 | | Code, as added by this Act. |
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| 61 | 61 | | SECTION 4. This Act takes effect immediately if it receives |
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| 62 | 62 | | a vote of two-thirds of all the members elected to each house, as |
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| 63 | 63 | | provided by Section 39, Article III, Texas Constitution. If this |
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| 64 | 64 | | Act does not receive the vote necessary for immediate effect, this |
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| 65 | 65 | | Act takes effect September 1, 2021. |
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