By Ellis S.B. No. 805
76R3471 JSA-D
A BILL TO BE ENTITLED
1-1 AN ACT
1-2 relating to the investment of the higher education fund.
1-3 BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS:
1-4 SECTION 1. Section 62.026(d), Education Code, is amended to
1-5 read as follows:
1-6 (d) The comptroller shall administer [the fund] and invest
1-7 the fund. In investing the fund, the comptroller has the same
1-8 investment authority as that provided under Sections 11a and 11b,
1-9 Article VII, Texas Constitution, or other law to the board of
1-10 regents of The University of Texas System with respect to the
1-11 investment of [in the same manner as] the permanent university
1-12 fund. The investment authority granted to the comptroller under
1-13 this subsection is in addition to that provided by Section 404.024,
1-14 Government Code, or other law.
1-15 SECTION 2. The importance of this legislation and the
1-16 crowded condition of the calendars in both houses create an
1-17 emergency and an imperative public necessity that the
1-18 constitutional rule requiring bills to be read on three several
1-19 days in each house be suspended, and this rule is hereby suspended,
1-20 and that this Act take effect and be in force from and after its
1-21 passage, and it is so enacted.