1-1  By:  Truan                                            S.B. No. 1417
    1-2        (In the Senate - Filed March 13, 1995; March 20, 1995, read
    1-3  first time and referred to Committee on Finance; April 28, 1995,
    1-4  reported favorably by the following vote:  Yeas 11, Nays 0;
    1-5  April 28, 1995, sent to printer.)
    1-6                         A BILL TO BE ENTITLED
    1-7                                AN ACT
    1-8  relating to establishment of an investment budgeting pilot project
    1-9  for state spending.
   1-10        BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS:
   1-11        SECTION 1.  (a)  The Legislative Budget Board shall establish
   1-12  a pilot project for and develop the criteria for the implementation
   1-13  of investment budgeting for state spending.
   1-14        (b)  As part of the investment budgeting process, the board
   1-15  shall:
   1-16              (1)  examine the long-term consequences of budget
   1-17  alternatives;
   1-18              (2)  focus on allocating resources to fund
   1-19  cost-effective measures;
   1-20              (3)  select state-level benchmarks and agency-specific
   1-21  outcomes for investment analysis;
   1-22              (4)  oversee the investment analysis; and
   1-23              (5)  recommend ways that the state appropriations
   1-24  process may be revised to incorporate the use of investment
   1-25  budgeting.
   1-26        SECTION 2.  Not later than January 15, 1997, the Legislative
   1-27  Budget Board shall submit to the governor and the 75th Legislature
   1-28  a report concerning the effectiveness of the pilot project.
   1-29        SECTION 3.  This Act expires September 1, 1997.
   1-30        SECTION 4.  The importance of this legislation and the
   1-31  crowded condition of the calendars in both houses create an
   1-32  emergency and an imperative public necessity that the
   1-33  constitutional rule requiring bills to be read on three several
   1-34  days in each house be suspended, and this rule is hereby suspended.
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