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