By Truan                                              S.B. No. 1417
       74R6747 RJA-D
                                 A BILL TO BE ENTITLED
    1-1                                AN ACT
    1-2  relating to establishment of an investment budgeting pilot project
    1-3  for state spending.
    1-4        BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS:
    1-5        SECTION 1.  (a)  The Legislative Budget Board shall establish
    1-6  a pilot project for and develop the criteria for the implementation
    1-7  of investment budgeting for state spending.
    1-8        (b)  As part of the investment budgeting process, the board
    1-9  shall:
   1-10              (1)  examine the long-term consequences of budget
   1-11  alternatives;
   1-12              (2)  focus on allocating resources to fund
   1-13  cost-effective measures;
   1-14              (3)  select state-level benchmarks and agency-specific
   1-15  outcomes for investment analysis;
   1-16              (4)  oversee the investment analysis; and
   1-17              (5)  recommend ways that the state appropriations
   1-18  process may be revised to incorporate the use of investment
   1-19  budgeting.
   1-20        SECTION 2.  Not later than January 15, 1997, the Legislative
   1-21  Budget Board shall submit to the governor and the 75th Legislature
   1-22  a report concerning the effectiveness of the pilot project.
   1-23        SECTION 3.  This Act expires September 1, 1997.
   1-24        SECTION 4.  The importance of this legislation and the
    2-1  crowded condition of the calendars in both houses create an
    2-2  emergency and an imperative public necessity that the
    2-3  constitutional rule requiring bills to be read on three several
    2-4  days in each house be suspended, and this rule is hereby suspended.