BILL ANALYSIS



S.J.R. 7
By: Ellis (Giddings)
April 26, 1995
Committee Report (Unamended)



BACKGROUND

In 1987, the 70th Legislature prevented funds in the Texas Growth
Fund from being invested with businesses that have financial ties
to South Africa or Nambia.  The constitutional restriction was
enacted to protest South Africa's apartheid government, which was
recently replaced by the democratically elected government of
President Nelson Mandela.  

PURPOSE

S.J.R. 7 repeals the requirement that businesses investing in
Namibia or South Africa to disclose these investments in order to
receive money from the Texas growth fund.

RULEMAKING AUTHORITY

It is the committee's opinion that this bill does not grant any
additional rulemaking authority to a state officer, institution, or
agency.

SECTION BY SECTION ANALYSIS

SECTION 1.  Repealer:  Section 70(r), Article XVI, Texas
Constitution (Texas growth fund; management; investment of state
funds).

SECTION 2.  Election date: November 7, 1995.  Ballot language.

SUMMARY OF COMMITTEE ACTION

Pursuant to public notice posted on March 8, 1995, the Committee on
State Affairs convened in a public hearing on March 13, 1995 to
consider SJR 7.  The Chair laid out SJR 7 and recognized Rep.
Giddings to explain the resolution.  The Chair recognized Rep.
Giddings to close.  The Chair left SJR 7 pending.  In a public
hearing on April 5, 1995, the Chair laid out SJR 7.  SJR 7 was
reported favorably without amendment with the recommendation that
it do pass and be printed which prevailed by a record vote of 15
ayes, 0 nays, 0 pnv, 0 absent.