Texas 2023 - 88th Regular

Texas Senate Bill SR681 Compare Versions

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1	1	SENATE RESOLUTION NO. 681
2	2	WHEREAS, B. Holland Timmins is retiring from his role as
3	3	the chief executive officer of the Texas Permanent School Fund
4	4	Corporation on May 31, 2023, drawing to a close an outstanding
5	5	career in state investment that has spanned four decades; and
6	6	WHEREAS, A seventh-generation Texan and the grandson of a
7	7	public school history teacher, Mr. Timmins began his career
8	8	serving the Lone Star State in 1983; over the course of his
9	9	23-year tenure with the Texas Permanent School Fund Corporation,
10	10	the organization's value has grown from $17 billion to more than
11	11	$50 billion, and its returns have exceeded the benchmark and
12	12	provided an additional value of $1.3 billion to the fund; and
13	13	WHEREAS, Along the way, Mr. Timmins has partnered with the
14	14	State Board of Education to achieve intergenerational equity for
15	15	all students while protecting the Texas Permanent School Fund,
16	16	and $18 billion has been distributed to public education over the
17	17	last 18 years; following the adoption of a constitutional
18	18	amendment in 2003, he worked with the State Board of Education to
19	19	direct the transition of the fund from a traditional
20	20	stocks-and-bonds income-based investment portfolio to a modern
21	21	and diversified total-return investment portfolio; he has also
22	22	overseen the successful transition of the Texas Permanent School
23	23	Fund's assets and management to the Texas Permanent School Fund
24	24	Corporation, a complex effort that merged investments and staff
25	25	from two separate state entities into a stand-alone, top-tier
26	26	corporation; and
27	27	WHEREAS, Under this esteemed professional's able
28	28	leadership, the Texas Permanent School Fund Corporation has
29	29	earned numerous honors; the organization was named the Sovereign
30	30	Wealth Fund of the Year at the 17th Annual Hedge Fund Industry
31	31	Awards and the Global Real Estate Investor of the Year at the 2019
32	32	IPE Real Estate Global Conference & Awards; it has also been
33	33	recognized with the Certificate of Achievement for Excellence in
34	34	Financial Reporting by the Government Finance Officers
35	35	Association for the past eight consecutive years; and
36	36	WHEREAS, Throughout his career, Holland Timmins has
37	37	greatly benefited the State of Texas and its public schools, and
38	38	he has earned the lasting respect and admiration of his
39	39	colleagues and fellow citizens alike; now, therefore, be it
40	40	RESOLVED, That the Senate of the State of Texas, 88th
41	41	Legislature, hereby congratulate B. Holland Timmins on his
42	42	retirement as the chief executive officer of the Texas Permanent
43	43	School Fund Corporation and extend to him sincere best wishes for
44	44	the future; and, be it further
45	45	RESOLVED, That an official copy of this Resolution be
46	46	prepared for Mr. Timmins as an expression of high regard from the
47	47	Texas Senate.
48	48	Eckhardt
49	49	________________________________
50	50	President of the Senate
51	51	I hereby certify that the
52	52	above Resolution was adopted by
53	53	the Senate on May 26, 2023.
54	54	________________________________
55	55	Secretary of the Senate
56	56	________________________________
57	57	Member, Texas Senate