By: Ellis S.B. No. 805
A BILL TO BE ENTITLED
AN ACT
1-1 relating to the investment of the higher education fund.
1-2 BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS:
1-3 SECTION 1. Subsection (d), Section 62.026, Education Code,
1-4 is amended to read as follows:
1-5 (d) The comptroller shall administer [the fund] and invest
1-6 the fund. In investing the fund, the comptroller has the same
1-7 investment authority as that provided under Sections 11a and 11b,
1-8 Article VII, Texas Constitution, or other law to the board of
1-9 regents of The University of Texas System with respect to the
1-10 investment of [in the same manner as] the permanent university
1-11 fund. The investment authority granted to the comptroller under
1-12 this subsection is in addition to that provided by Section 404.024,
1-13 Government Code, or other law.
1-14 SECTION 2. The importance of this legislation and the
1-15 crowded condition of the calendars in both houses create an
1-16 emergency and an imperative public necessity that the
1-17 constitutional rule requiring bills to be read on three several
1-18 days in each house be suspended, and this rule is hereby suspended,
1-19 and that this Act take effect and be in force from and after its
1-20 passage, and it is so enacted.