| Old | New | Differences | |
|---|---|---|---|
| 1 | 1 | 89R10079 SCL-F | |
| 2 | 2 | By: Hinojosa of Hidalgo S.B. No. 2329 | |
| 3 | 3 | ||
| 4 | 4 | ||
| 5 | 5 | ||
| 6 | 6 | ||
| 7 | 7 | A BILL TO BE ENTITLED | |
| 8 | 8 | AN ACT | |
| 9 | 9 | relating to investment of local governments' money in banks located | |
| 10 | 10 | in this state. | |
| 11 | 11 | BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: | |
| 12 | 12 | SECTION 1. Section 2256.005, Government Code, is amended by | |
| 13 | 13 | adding Subsection (b-1) to read as follows: | |
| 14 | 14 | (b-1) The investment policies for a local government must | |
| 15 | 15 | require at least 35 percent of the local government's funds that the | |
| 16 | 16 | governing body of the local government determines are available for | |
| 17 | 17 | investment to be invested in an authorized investment described by | |
| 18 | 18 | Section 2256.009(a)(7) or (8) or 2256.010 in a bank located in this | |
| 19 | 19 | state. | |
| 20 | 20 | SECTION 2. This Act takes effect January 1, 2026. |