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