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
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