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