SRC-AXB S.J.R. 19 76(R)   BILL ANALYSIS


Senate Research Center   S.J.R. 19
76R3790  DWS-FBy: Ellis
State Affairs
2/22/1999
As Filed


DIGEST 

Currently, the Texas growth fund (fund) requires a business to disclose
financial investments in South Africa or Namibia, before investing in that
business.  However, the fund is not prevented from investing in a business
that has transactions with these countries.  South Africa and Namibia no
longer operate under a system of apartheid, and this constitutional
amendment would repeal the requirement that businesses with financial
investments in these countries disclose their investments to the fund. 

PURPOSE

As proposed, S.J.R. 19 requires the submission to the voters of a
constitutional amendment to allow the Texas growth fund to continue
investing in businesses without requiring those businesses to disclose
investments in South Africa or Namibia. 

RULEMAKING AUTHORITY

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

SECTION BY SECTION ANALYSIS

SECTION 1.  Repealer:  Section 70(r), Article XVI, Texas Constitution.

SECTION 2.  Requires this proposed constitutional amendment to be submitted
to the voters at an election to be held on November 2, 1999.  Sets forth
the required language for the ballot.