SRC-JBJ S.B. 1834 76(R) BILL ANALYSIS Senate Research Center S.B. 1834 76R7589 GCH-DBy: Sibley State Affairs 4/26/1999 As Filed DIGEST In 1993, the Texas Legislature authorized the state agencies, universities, public retirement systems, and certain political subdivisions to invest in State of Israel Bonds. In 1995, a rewrite of the Texas Public Funds Investment Act removed the authority for county and municipal governments to make the investment. S.B. 1834 would amend Section 2256.009(a), Government Code, to reauthorize county and municipal governments to invest in State of Israel Bonds. PURPOSE As proposed, S.B. 1834 reauthorizes county and municipal governments to invest in State of Israel Bonds. 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 2256.009(a), Government Code, to provide that certain obligations are authorized investments under this subchapter, including the bonds issued, amended, or guaranteed by the State of Israel. Makes conforming changes. SECTION 2. Emergency clause. Effective date: upon passage.