1-1     By:  Gallegos                                          S.B. No. 397

 1-2           (In the Senate - Filed January 30, 1997; February 4, 1997,

 1-3     read first time and referred to Committee on Intergovernmental

 1-4     Relations; April 3, 1997, reported favorably by the following vote:

 1-5     Yeas 10, Nays 0; April 3, 1997, sent to printer.)

 1-6                            A BILL TO BE ENTITLED

 1-7                                   AN ACT

 1-8     relating to the qualifications for an investment officer of a

 1-9     regional planning commission, council of government, or similar

1-10     regional planning agency.

1-11           BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS:

1-12           SECTION 1.  Subsection (h), Section 2256.005, Government

1-13     Code, is amended to read as follows:

1-14           (h)  An officer or employee of a commission created under

1-15     Chapter 391, Local Government Code, is ineligible to be [designated

1-16     as] an investment officer for the commission under Subsection (f)

1-17     if the officer or employee is an investment officer designated

1-18     under Subsection (f) for another local government.

1-19           SECTION 2.  This Act takes effect September 1, 1997.

1-20           SECTION 3.  The importance of this legislation and the

1-21     crowded condition of the calendars in both houses create an

1-22     emergency and an imperative public necessity that the

1-23     constitutional rule requiring bills to be read on three several

1-24     days in each house be suspended, and this rule is hereby suspended.

1-25                                  * * * * *