BILL ANALYSIS


                                                         S.J.R. 7
                                                        By: Ellis
                                       Int. Rel., Trade and Tech.
                                                          1-25-95
                                     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 Namibia.  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.  Since the Texas Legislature meets
biennially, Texas is behind every other state in acting to remove
investment restrictions on South Africa.

PURPOSE

As proposed, 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. Requires this constitutional amendment to be submitted
to the voters at an election to be held November 7, 1995, and
provides the language for the ballot.