By:  Leedom                                            S.B. No. 129
                                 A BILL TO BE ENTITLED
                                        AN ACT
    1-1  relating to policy reports required to be adopted by public
    1-2  retirement systems and submitted to the State Pension Review Board.
    1-3        BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS:
    1-4        SECTION 1.  Section 802.202, Government Code, is amended by
    1-5  adding Subsection (d) to read as follows:
    1-6        (d)  The governing body of a public retirement system shall:
    1-7              (1)  develop and adopt a written investment policy;
    1-8              (2)  maintain for public review at its main office a
    1-9  copy of the policy;
   1-10              (3)  file a copy of the policy with the State Pension
   1-11  Review Board not later than the 90th day after the date the policy
   1-12  is adopted; and
   1-13              (4)  file a copy of each change to the policy with the
   1-14  State Pension Review Board not later than the 90th day after the
   1-15  change is adopted.
   1-16        SECTION 2.  The governing body of a public retirement system
   1-17  shall adopt a policy as required by Subsection (d), Section
   1-18  802.202, Government Code, as added by this Act, before November 1,
   1-19  1993.
   1-20        SECTION 3.  The importance of this legislation and the
   1-21  crowded condition of the calendars in both houses create an
   1-22  emergency and an imperative public necessity that the
   1-23  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  and that this Act take effect and be in force from and after its
    2-3  passage, and it is so enacted.