By: Leedom S.B. No. 127 A BILL TO BE ENTITLED AN ACT 1-1 relating to periodic reports concerning certain state trust funds. 1-2 BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: 1-3 SECTION 1. In this Act, "state trust fund" means the 1-4 permanent school fund, the permanent university fund, the Teacher 1-5 Retirement System of Texas trust fund, and those trust accounts 1-6 administered by the Employees Retirement System of Texas. 1-7 SECTION 2. The manager of each state trust fund shall report 1-8 the information required in Section 3 of this Act not later than 1-9 the 25th day of the month following each calendar quarter to the 1-10 governor, the lieutenant governor, the speaker of the house of 1-11 representatives, and the executive director of the State Pension 1-12 Review Board. 1-13 SECTION 3. The report shall include the following: 1-14 (1) the number of beneficiaries of the state trust 1-15 fund; 1-16 (2) the name of any individual responsible for 1-17 administering the state trust fund and the discretionary investment 1-18 authority granted to these individuals; 1-19 (3) the investment objectives of the state trust fund; 1-20 (4) the current end-of-month market value of the state 1-21 trust fund; 1-22 (5) the current book value of the state trust fund; 1-23 (6) the names and amounts of the 10 largest stock 2-1 holdings of the state trust fund along with the investment 2-2 performance of these stock holdings during the last 12-month 2-3 period; and 2-4 (7) the asset allocations of the state trust fund 2-5 expressed in percentages of stocks, fixed income, real estate, 2-6 cash, or other financial investments. 2-7 SECTION 4. This Act shall not diminish, impair, contradict, 2-8 or in any way affect the duties, powers, or authorities granted or 2-9 imposed on a governing board of a state trust fund by the 2-10 constitution or laws of this state. 2-11 SECTION 5. This Act takes effect September 1, 1993. 2-12 SECTION 6. The importance of this legislation and the 2-13 crowded condition of the calendars in both houses create an 2-14 emergency and an imperative public necessity that the 2-15 constitutional rule requiring bills to be read on three several 2-16 days in each house be suspended, and this rule is hereby suspended.