1-1 By: Leedom S.B. No. 129
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 by the following vote: Yeas
1-5 10, 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 A BILL TO BE ENTITLED
1-22 AN ACT
1-23 relating to policy reports required to be adopted by public
1-24 retirement systems and submitted to the State Pension Review Board.
1-25 BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS:
1-26 SECTION 1. Section 802.202, Government Code, is amended by
1-27 adding Subsection (d) to read as follows:
1-28 (d) The governing body of a public retirement system shall:
1-29 (1) develop and adopt a written investment policy;
1-30 (2) maintain for public review at its main office a
1-31 copy of the policy;
1-32 (3) file a copy of the policy with the State Pension
1-33 Review Board not later than the 90th day after the date the policy
1-34 is adopted; and
1-35 (4) file a copy of each change to the policy with the
1-36 State Pension Review Board not later than the 90th day after the
1-37 change is adopted.
1-38 SECTION 2. The governing body of a public retirement system
1-39 shall adopt a policy as required by Subsection (d), Section
1-40 802.202, Government Code, as added by this Act, before November 1,
1-41 1993.
1-42 SECTION 3. The importance of this legislation and the
1-43 crowded condition of the calendars in both houses create an
1-44 emergency and an imperative public necessity that the
1-45 constitutional rule requiring bills to be read on three several
1-46 days in each house be suspended, and this rule is hereby suspended,
1-47 and that this Act take effect and be in force from and after its
1-48 passage, and it is so enacted.
1-49 * * * * *
1-50 Austin,
1-51 Texas
1-52 February 3,
1-53 1993
1-54 Hon. Bob Bullock
1-55 President of the Senate
1-56 Sir:
1-57 We, your Committee on State Affairs to which was referred S.B.
1-58 No. 129, have had the same under consideration, and I am instructed
1-59 to report it back to the Senate with the recommendation that it do
1-60 pass and be printed.
1-61 Harris of
1-62 Dallas, Chairman
1-63 * * * * *
1-64 WITNESSES
1-65 FOR AGAINST ON
1-66 ___________________________________________________________________
1-67 Name: Rita Horwitz x
1-68 Representing: State Pension Review Board
2-1 City: Austin
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