By Greenberg                                          H.B. No. 3739
         Line and page numbers may not match official copy.
         Bill not drafted by TLC or Senate E&E.
                                A BILL TO BE ENTITLED
 1-1                                   AN ACT
 1-2     relating to management or investment of the permanent school fund.
 1-3           BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS:
 1-4           SECTION 1.  Chapter 43, Education Code, is amended by adding
 1-5     Section 43.0031 to read as follows:
 1-6           Sec. 43.0031.  PERMANENT SCHOOL FUND ETHICS POLICY.  In
 1-7     addition to any other requirements provided by law, the State Board
 1-8     of Education shall adopt and enforce an ethics policy requiring
 1-9     that consultants, advisors, brokers, and other persons providing
1-10     services to the board relating to the management or investment of
1-11     the permanent school fund file regularly with the board a report
1-12     detailing any expenditure of more than $50 made on behalf of a
1-13     member of the board, the commissioner, or an employee of the Texas
1-14     Education Agency or of a nonprofit corporation providing services
1-15     under Section 43.006.
1-16           SECTION 2.  This Act takes effect September 1, 1999.
1-17           SECTION 3.  The importance of this legislation and the
1-18     crowded condition of the calendars in both houses create an
1-19     emergency and an imperative public necessity that the
1-20     constitutional rule requiring bills to be read on three several
1-21     days in each house be suspended, and this rule is hereby suspended.