SRC-DBM H.B. 1722 76(R)   BILL ANALYSIS


Senate Research Center   H.B. 1722
76R6925  GCH-FBy: Counts (Shapleigh)
Finance
4/26/1999
Engrossed


DIGEST 

Currently, money in the veterans' land fund may be placed in a variety of
investments such as commercial paper or direct security agreements.  H.B.
1722 would set forth authorized investments for money in the veterans' land
fund. 

PURPOSE

As proposed, H.B. 1722 sets forth authorized investments for money in the
veterans' land fund. 

RULEMAKING AUTHORITY

This bill does not grant any additional rulemaking authority to a state
officer, institution, or agency. 

SECTION BY SECTION ANALYSIS

SECTION 1.  Amends Section 161.173(a), Natural Resources Code, to set forth
the investments for money in the veterans' land fund that is not
immediately committed to paying principal of and interest on the bonds, to
the  purchase of land, or to the payment of expenses as provided in this
chapter. 

SECTION 2.Emergency clause.
  Effective date: upon passage.