SBW H.B. 2965 75(R)BILL ANALYSIS


PENSIONS & INVESTMENTS
H.B. 2965
By: Reyna, Elvira
4-15-97
Committee Report (Unamended)



BACKGROUND 

Currently, the Public Investment Act (Act) requires every member of the
governing board of a state agency and its investment officer to attend at
least one training session to be taken within six months after the member
takes office or assumes duties.  Additionally, the Act requires that: (1)
the governor's office shall provide training under this section for
members and officers other than members and officers of an institution of
higher education; and (2) the Texas Higher Education Coordinating Board
shall provide training for member and officers of institutions of higher
education.  To fulfill this provision, a videotape prepared jointly by the
Office of the Governor and the Texas Higher Education Coordinating Board
is sent to all state agencies. 

The statute also requires that the training include education in
investment controls, security risks, strategy risks, market risks, and
compliance with the Act. 

PURPOSE

As proposed, H.B. 2965 will transfer the responsibility for training under
the Public Investment Act from the governor's office to the Higher
Education Coordinating Board. 

RULEMAKING AUTHORITY

It is the committee's opinion that this bill does not expressly grant any
additional rulemaking authority to a state officer, department, agency or
institution. 

SECTION BY SECTION ANALYSIS

SECTION 1.  Amends Section 2256.007(b), Government Code to allow the Texas
Higher Education Coordinating Board to be the provider of training under
this section, striking the use of the governor's office. 

SECTION 2.  Emergency Clause.