By Ellis S.B. No. 1127 74R6924 RJA-F A BILL TO BE ENTITLED 1-1 AN ACT 1-2 relating to public funds investment pool portfolios. 1-3 BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: 1-4 SECTION 1. Subchapter A, Chapter 2256, Government Code, is 1-5 amended by adding Section 2256.0142 to read as follows: 1-6 Sec. 2256.0142. INVESTMENT POOL PORTFOLIO. The portfolio of 1-7 a public funds investment pool must be market to market daily and 1-8 stabilize, to the extent reasonably possible, at a $1 net asset 1-9 value. If the ratio of the market value of the portfolio divided 1-10 by the book value of the portfolio is less than 0.9965 or greater 1-11 than 1.0035, portfolio holdings shall be sold as necessary to 1-12 maintain the ratio between 0.9965 and 1.0035. 1-13 SECTION 2. This Act takes effect September 1, 1995. 1-14 SECTION 3. The importance of this legislation and the 1-15 crowded condition of the calendars in both houses create an 1-16 emergency and an imperative public necessity that the 1-17 constitutional rule requiring bills to be read on three several 1-18 days in each house be suspended, and this rule is hereby suspended.