HBA-NLM H.B. 2219 76(R)BILL ANALYSIS Office of House Bill AnalysisH.B. 2219 By: Hilbert County Affairs 4/11/1999 Committee Report (Amended) BACKGROUND AND PURPOSE Currently, rural volunteer fire prevention district officers and employees are required to participate in investment training. These employees operate under limited budgets which are used only to meet ongoing expenses. H.B. 2219 provides that Section 2256.008 (Investment Training; Local Governments), Government Code, does not apply to an officer or employee of a district created under Chapters 775 (Emergency Services Districts) and 794 (Rural Fire Prevention Districts), Health and Safety Code. RULEMAKING AUTHORITY It is the opinion of the Office of House Bill Analysis that this bill does not expressly delegate any additional rulemaking authority to a state officer, department, agency, or institution. SECTION BY SECTION ANALYSIS SECTION 1. Amends Subchapter C, Chapter 775, Health and Safety Code, by adding Section 775.041, as follows: Sec. 775.041. EXEMPTION FROM INVESTMENT TRAINING. Provides that Section 2256.008 (Investment Training; Local Governments), Government Code, does not apply to an officer or employee of a district created under this chapter. SECTION 2. Amends Subchapter C, Chapter 794, Health and Safety Code, by adding Section 794.038, as follows: Sec. 794.038. EXEMPTION FROM INVESTMENT TRAINING. Provides that Section 2256.008 (Investment Training; Local Governments), Government Code, does not apply to an officer or employee of a district created under this chapter. SECTION 3. Emergency clause. Effective date: upon passage. EXPLANATION OF AMENDMENTS Amendment # 1 Amends Section 775.041 (Exemption From Investment Training), Chapter 775, Health and Safety Code, by adding Subsection (b), to authorize a district to invest funds only in the authorized investments set forth under Government Code, Sections 2256.009 (Authorized Investments: Obligations of, or Guaranteed by Governmental Entities), 2256.010 (Authorized Investments: Certificates of Deposit and Share Certificates), and 2256.016 (Authorized Investments: Investment Pools), unless the treasurer, chief financial officer and the investment officer of the district attend and successfully complete the training requirements under Section 2256.008 (Investment Training; Local Governments). Amends Section 794.038 (Exemption From Investment Training), Chapter 794, Health and Safety Code, by adding Subsection (b), to authorize a district to invest funds only in the authorized investments set forth under Government Code, Sections 2256.009 (Authorized Investments: Obligations of, or Guaranteed by Governmental Entities), 2256.010 (Authorized Investments: Certificates of Deposit and Share Certificates), and 2256.016 (Authorized Investments: Investment Pools), unless the treasurer, chief financial officer and the investment officer of the district attend and successfully complete the training requirements under Section 2256.008 (Investment Training; Local Governments).