Enrolled Bill Summary

Senate Bill 253	Senate Author:  Taylor, Van et al.
Effective:  5-23-17	House Sponsor:  Davis, Sarah

            Senate Bill 253 repeals certain provisions relating to the prohibition against investments in Iran by a state governmental entity and amends the Government Code to revise and reorganize provisions regarding the prohibitions on the investment of public money in certain investments by a state investing entity. The bill consolidates statutory provisions relating to prohibited investments in Sudan and prohibited investments in Iran and expands the applicability of those provisions to include investments with an organization designated as a foreign terrorist organization by the U.S. secretary of state. The bill sets out requirements relating to the preparation, update, and posting by the comptroller of public accounts of a list of designated foreign terrorist organizations, including the requirement to file the list with the presiding officer of each house of the legislature and the attorney general.