Rule 12, Section 1(a)(1)(A) was suspended for the committee report

         on H.B. 2841.  Therefore, the text of the bill was not printed.

         Attached for your information is the amendment/amendments.

 1-1                          COMMITTEE AMENDMENT NO. 1

 1-2           Amend H.B. No. 2841 in SECTION 7.31 of the bill by striking

 1-3     amended Sections 404.024(b) and (f), Government Code (introduced

 1-4     version, page 57, line 9, through page 58, line 22) and

 1-5     substituting the following:

 1-6           (b)  State funds not deposited in state depositories shall be

 1-7     invested by the comptroller [treasurer] in:

 1-8                 (1)  direct security repurchase agreements;

 1-9                 (2)  reverse security repurchase agreements;

1-10                 (3)  direct obligations of or obligations the principal

1-11     and interest of which are guaranteed by the United States;

1-12                 (4)  direct obligations of or obligations guaranteed by

1-13     agencies or instrumentalities of the United States government;

1-14                 (5)  bankers' acceptances that:

1-15                       (A)  are eligible for purchase by the Federal

1-16     Reserve System;

1-17                       (B)  do not exceed 270 days to maturity; and

1-18                       (C)  are issued by a bank that has received the

1-19     highest short-term credit rating by a nationally recognized

1-20     investment rating firm;

1-21                 (6)  commercial paper that:

 2-1                       (A)  does not exceed 270 days to maturity; and

 2-2                       (B)  except as provided by Subsection (i), has

 2-3     received the highest short-term credit rating by a nationally

 2-4     recognized investment rating firm;

 2-5                 (7)  contracts written by the treasury in which the

 2-6     treasury grants the purchaser the right to purchase securities in

 2-7     the treasury's marketable securities portfolio at a specified price

 2-8     over a specified period and for which the treasury is paid a fee

 2-9     and specifically prohibits naked-option or uncovered option

2-10     trading;

2-11                 (8)  direct obligations of or obligations guaranteed by

2-12     the Inter-American Development Bank, the International Bank for

2-13     Reconstruction and Development (the World Bank), the African

2-14     Development Bank, the Asian Development Bank, and the International

2-15     Finance Corporation that have received the highest credit rating by

2-16     a nationally recognized investment rating firm;

2-17                 (9)  bonds issued, assumed, or guaranteed by the State

2-18     of Israel;

2-19                 (10)  obligations of a state or an agency, county,

2-20     city, or other political subdivision of a state; and

2-21                 (11)  mutual funds secured by obligations that are

2-22     described by Subdivisions (1) through (6).

2-23           (f)  The comptroller [treasurer] by rule may define

2-24     derivative investments other than those described by Subsection

2-25     (e).  The treasury may not purchase investments defined by rule

2-26     adopted under this subsection in an amount that at the time of

2-27     purchase will cause the aggregate value of the investments to

 3-1     exceed five percent of the treasury's total investments.

 3-2     75R9893 JRD-D                                                Stiles

 3-3                          COMMITTEE AMENDMENT NO. 2

 3-4           Amend H.B. No. 2841 on page 321 by deleting Section 21.02 and

 3-5     renumbering subsequent sections.

 3-6                                                                  Stiles