By: Creighton S.B. No. 1489
(In the Senate - Filed March 2, 2023; March 16, 2023, read
first time and referred to Subcommittee on Higher Education;
April 27, 2023, reported favorably from Committee on Education by
the following vote: Yeas 10, Nays 3; April 27, 2023, sent to
printer.)
Click here to see the committee vote
A BILL TO BE ENTITLED
AN ACT
relating to prohibiting the investment of the permanent university
fund, the national research university fund, or money held by a
public institution of higher education in financial companies that
boycott certain energy companies.
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS:
SECTION 1. Section 51.0031, Education Code, is amended by
adding Subsection (e) to read as follows:
(e) Chapter 809, Government Code, applies to a governing
board as if the governing board were a state governmental entity
under that chapter.
SECTION 2. Section 62.143, Education Code, is amended by
adding Subsection (c) to read as follows:
(c) Chapter 809, Government Code, applies to the national
research university fund as if the fund were a state governmental
entity under that chapter.
SECTION 3. Subchapter A, Chapter 66, Education Code, is
amended by adding Section 66.015 to read as follows:
Sec. 66.015. PROHIBITION ON INVESTMENT IN FINANCIAL
COMPANIES THAT BOYCOTT CERTAIN ENERGY COMPANIES. Notwithstanding
Section 66.01, Chapter 809, Government Code, applies to the
permanent university fund as if the fund were a state governmental
entity under that chapter.
SECTION 4. This Act takes effect September 1, 2023.
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