1-1 By: Leedom S.B. No. 127 1-2 (In the Senate - Filed January 15, 1993; January 19, 1993, 1-3 read first time and referred to Committee on State Affairs; 1-4 February 3, 1993, reported favorably, as amended, by the following 1-5 vote: Yeas 9, Nays 0; February 3, 1993, sent to printer.) 1-6 COMMITTEE VOTE 1-7 Yea Nay PNV Absent 1-8 Harris of Dallas x 1-9 Rosson x 1-10 Carriker x 1-11 Henderson x 1-12 Leedom x 1-13 Lucio x 1-14 Luna x 1-15 Nelson x 1-16 Patterson x 1-17 Shelley x 1-18 Sibley x 1-19 West x 1-20 Whitmire x 1-21 COMMITTEE AMENDMENT NO. 1 By: Leedom 1-22 Amend S.B. No. 127, SECTION 2, by striking the section in its 1-23 entirety and by inserting the following: 1-24 SECTION 2. The manager of each state trust fund shall report 1-25 the information required in Section 3 of this Act not later than 1-26 the 25th day of the month following each calendar quarter to the 1-27 governor, the lieutenant governor, the speaker of the house of 1-28 representatives, and the executive director of the State Pension 1-29 Review Board. 1-30 A BILL TO BE ENTITLED 1-31 AN ACT 1-32 relating to periodic reports concerning certain state trust funds. 1-33 BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: 1-34 SECTION 1. In this Act, "state trust fund" means the 1-35 permanent school fund, the permanent university fund, the Teacher 1-36 Retirement System of Texas trust fund, and those trust accounts 1-37 administered by the Employees Retirement System of Texas. 1-38 SECTION 2. The manager of each state trust fund shall report 1-39 the information required in Section 3 of this Act not later than 1-40 the fifth day of each month to the governor, the lieutenant 1-41 governor, the speaker of the house of representatives, and the 1-42 executive director of the State Pension Review Board. 1-43 SECTION 3. The report shall include the following: 1-44 (1) the number of beneficiaries of the state trust 1-45 fund; 1-46 (2) the name of any individual responsible for 1-47 administering the state trust fund and the discretionary investment 1-48 authority granted to these individuals; 1-49 (3) the investment objectives of the state trust fund; 1-50 (4) the current end-of-month market value of the state 1-51 trust fund; 1-52 (5) the current book value of the state trust fund; 1-53 (6) the names and amounts of the 10 largest stock 1-54 holdings of the state trust fund along with the investment 1-55 performance of these stock holdings during the last 12-month 1-56 period; and 1-57 (7) the asset allocations of the state trust fund 1-58 expressed in percentages of stocks, fixed income, real estate, 1-59 cash, or other financial investments. 1-60 SECTION 4. This Act shall not diminish, impair, contradict, 1-61 or in any way affect the duties, powers, or authorities granted or 1-62 imposed on a governing board of a state trust fund by the 1-63 constitution or laws of this state. 1-64 SECTION 5. This Act takes effect September 1, 1993. 1-65 SECTION 6. The importance of this legislation and the 1-66 crowded condition of the calendars in both houses create an 1-67 emergency and an imperative public necessity that the 1-68 constitutional rule requiring bills to be read on three several 2-1 days in each house be suspended, and this rule is hereby suspended. 2-2 * * * * * 2-3 Austin, 2-4 Texas 2-5 February 3, 2-6 1993 2-7 Hon. Bob Bullock 2-8 President of the Senate 2-9 Sir: 2-10 We, your Committee on State Affairs to which was referred S.B. No. 2-11 127, have had the same under consideration, and I am instructed to 2-12 report it back to the Senate with the recommendation that it do 2-13 pass, as amended, and be printed. 2-14 Harris of 2-15 Dallas, Chairman 2-16 * * * * * 2-17 WITNESSES 2-18 FOR AGAINST ON 2-19 ___________________________________________________________________ 2-20 Name: John Young x 2-21 Representing: TRS 2-22 City: Austin 2-23 -------------------------------------------------------------------