By Greenberg H.B. No. 3009 76R9161 GCH-D A BILL TO BE ENTITLED 1-1 AN ACT 1-2 relating to investments, accounting standards, and audits under the 1-3 Public Funds Investment Act. 1-4 BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: 1-5 SECTION 1. All state agencies and local governments are 1-6 subject to the application of Chapter 2256, Government Code, unless 1-7 otherwise exempt. An entity subject to Chapter 2256, Government 1-8 Code, is required to meet requirements of that chapter applicable 1-9 to: 1-10 (1) the investment of all funds held or invested by 1-11 the entity; 1-12 (2) investment standards, including the use of 1-13 nationally recognized rating services for investments; 1-14 (3) accounting standards for financial statements; 1-15 (4) compliance audits, unless otherwise exempt; and 1-16 (5) other practices and procedures advisable to ensure 1-17 prudent investment and accountability. 1-18 SECTION 2. The importance of this legislation and the 1-19 crowded condition of the calendars in both houses create an 1-20 emergency and an imperative public necessity that the 1-21 constitutional rule requiring bills to be read on three several 1-22 days in each house be suspended, and this rule is hereby suspended, 1-23 and that this Act take effect and be in force from and after its 1-24 passage, and it is so enacted.