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.