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.