By: Ellis S.B. No. 20 A BILL TO BE ENTITLED AN ACT 1-1 relating to transferring certain powers and duties of the state 1-2 treasurer to the comptroller of public accounts. 1-3 BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: 1-4 SECTION 1. Subchapter A, Chapter 404, Government Code, is 1-5 amended by adding Section 404.0011 to read as follows: 1-6 Sec. 404.0011. TRANSFER OF TREASURER'S POWERS AND DUTIES. 1-7 (a) The powers and duties of the state treasurer under this 1-8 chapter or other law are transferred to the comptroller. 1-9 (b) A reference in law to the state treasurer is a reference 1-10 to the comptroller. 1-11 (c) If the state treasurer and the comptroller or their 1-12 respective designees are both ex officio members of a committee or 1-13 governing body under law, the transfer of the powers and duties 1-14 under this section does not give the comptroller more than one vote 1-15 or position on the committee or governing body. If the state 1-16 treasurer and the comptroller both have the power to appoint 1-17 members to a committee under law, the transfer of the powers and 1-18 duties under this section does not allow the comptroller to 1-19 exercise the power of appointment given to the treasurer under law 1-20 in addition to the power of appointment given to the comptroller 1-21 under law. If the state treasurer and the comptroller both have 1-22 the power to appoint members to a governing body under law, the 1-23 comptroller may exercise the power of appointment given to the 1-24 treasurer under law in addition to the power of appointment given 2-1 to the comptroller under law only if the members of the governing 2-2 body serve six-year terms and the composition of the governing body 2-3 is subject to Section 30a, Article XVI, Texas Constitution. 2-4 (d) The comptroller may contract with a private entity to 2-5 perform an activity transferred under this section as long as the 2-6 activity is not solely a sovereign function of the state. 2-7 SECTION 2. (a) The office of state treasurer is abolished 2-8 on September 1, 1996. On that date, all powers, duties, 2-9 obligations, rights, contracts, leases, records, employees, real or 2-10 personal property, and unspent and unobligated appropriations and 2-11 other funds of the state treasurer are transferred to the 2-12 comptroller. Before that date, the comptroller with the agreement 2-13 of the state treasurer may transfer any records, employees, or real 2-14 or personal property of the treasury to the comptroller in 2-15 preparation for the transfer provided for in this Act. 2-16 (b) The abolishment of the office of state treasurer does 2-17 not affect the validity of a right, privilege, or obligation 2-18 accrued, a contract or acquisition made, any liability incurred, a 2-19 permit or license issued, a penalty, forfeiture, or punishment 2-20 assessed, a rule adopted, a proceeding, investigation, or remedy 2-21 begun, a decision made, or other action taken by or in connection 2-22 with the state treasurer. 2-23 (c) All rules, policies, procedures, and decisions of the 2-24 state treasurer are continued in effect as rules, policies, 2-25 procedures, and decisions of the comptroller until superseded by a 2-26 rule or other appropriate action of the comptroller. 2-27 (d) Any action or proceeding before the state treasurer is 3-1 transferred without change in status to the comptroller, and the 3-2 comptroller assumes, without a change in status, the position of 3-3 the treasurer in any action or proceeding to which the treasurer is 3-4 a party. 3-5 SECTION 3. Notwithstanding Section 404.0011, Government 3-6 Code, as added by this Act, and Subsection (a) of Section 2 of this 3-7 Act, management of TexPool, the investment pool for local public 3-8 funds created under Chapter 791, Government Code, and managed by 3-9 the state treasury, is transferred to the Employees Retirement 3-10 System of Texas. 3-11 SECTION 4. This Act takes effect September 1, 1996, if the 3-12 constitutional amendment proposed by the 74th Legislature, Regular 3-13 Session, 1995, that abolishes the office of state treasurer takes 3-14 effect. If that amendment does not take effect, this Act has no 3-15 effect. 3-16 SECTION 5. The importance of this legislation and the 3-17 crowded condition of the calendars in both houses create an 3-18 emergency and an imperative public necessity that the 3-19 constitutional rule requiring bills to be read on three several 3-20 days in each house be suspended, and this rule is hereby suspended.