87R214 KFF-D
By: White H.B. No. 1665
A BILL TO BE ENTITLED
AN ACT
relating to the development and maintenance by the Employees
Retirement System of Texas and the Teacher Retirement System of
Texas of an online investment tracking database.
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS:
SECTION 1. Subchapter D, Chapter 815, Government Code, is
amended by adding Section 815.3014 to read as follows:
Sec. 815.3014. ONLINE INVESTMENT TRACKING DATABASE. (a)
In this section:
(1) "Foreign business entity" means a business entity
formed under, and the internal affairs of which are governed by, the
laws of a foreign jurisdiction.
(2) "Foreign jurisdiction" means a country or other
jurisdiction that is not the United States or a state of the United
States.
(b) Subject to Section 815.503 and Chapter 552, including
Sections 552.0225, 552.110, 552.1101, and 552.143, and other
applicable federal and state law, the retirement system shall
develop and maintain on the system's Internet website a publicly
searchable investment tracking database that allows the public to
view and search how and where the system's funds are invested. The
database must, to the extent possible, detail the information
described by Section 552.0225(b) with respect to each investment,
including investments in securities issued by foreign business
entities.
SECTION 2. Subchapter D, Chapter 825, Government Code, is
amended by adding Section 825.3014 to read as follows:
Sec. 825.3014. ONLINE INVESTMENT TRACKING DATABASE. (a)
In this section:
(1) "Foreign business entity" means a business entity
formed under, and the internal affairs of which are governed by, the
laws of a foreign jurisdiction.
(2) "Foreign jurisdiction" means a country or other
jurisdiction that is not the United States or a state of the United
States.
(b) Subject to Section 825.507 and Chapter 552, including
Sections 552.0225, 552.110, 552.1101, and 552.143, and other
applicable federal and state law, the retirement system shall
develop and maintain on the system's Internet website a publicly
searchable investment tracking database that allows the public to
view and search how and where the system's funds are invested. The
database must, to the extent possible, detail the information
described by Section 552.0225(b) with respect to each investment,
including investments in securities issued by foreign business
entities.
SECTION 3. As soon as practicable after the effective date
of this Act:
(1) the Employees Retirement System of Texas shall
develop and publish on the system's Internet website the investment
tracking database required under Section 815.3014, Government
Code, as added by this Act; and
(2) the Teacher Retirement System of Texas shall
develop and publish on the system's Internet website the investment
tracking database required under Section 825.3014, Government
Code, as added by this Act.
SECTION 4. This Act takes effect immediately if it receives
a vote of two-thirds of all the members elected to each house, as
provided by Section 39, Article III, Texas Constitution. If this
Act does not receive the vote necessary for immediate effect, this
Act takes effect September 1, 2021.