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House Bill 1003 |
House Author: Capriglione et al. |
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Effective: See below |
Senate Sponsor: West |
House Bill 1003 amends the Tax Code and Public Funds Investment Act, Government Code, to expand the investments authorized to be made under the act, to require certain authorized investments to comply with specified federal regulations, to exempt from the act an institution of higher education having total endowments of at least $150 million in book value on September 1, 2017, and to revise provisions of the act relating to investment pools. The bill takes effect June 14, 2017, except for provisions relating to the redefinition of "eligible costs and expenses," which take effect January 1, 2022.