SRC-JBJ S.B. 971 77(R) BILL ANALYSIS Senate Research Center S.B. 971 775884 DAK-FBy: Shapleigh State Affairs 3/25/2001 As Filed DIGEST AND PURPOSE Currently, large state investments of public funds are managed by state agencies in concert with national investment and brokerage firms. Disclosure of this funding and its management is currently compiled but not readily disseminated to the public. As proposed, S.B. 971 expands existing disclosure policy by requiring the posting on the Internet of all investment funds administered by or under a contract with any entity of state government. RULEMAKING AUTHORITY This bill does not expressly grant any additional rulemaking authority to a state officer, institution, or agency. SECTION BY SECTION ANALYSIS SECTION 1. Amends Chapter 2054F, Government Code, by adding Section 2054.111, as follows: Sec. 2054.111. REQUIRED POSTING OF STATE INVESTMENT FUND INFORMATION ON INTERNET. (a) Defines "state investment fund." (b) Requires the entity of state government responsible for administering a state investment fund to post a report, on or before the first day of each calendar quarter, containing the information specified by Subsection (c) for the previous calendar quarter on a generally accessible Internet site maintained by or for the fund. (c) Sets forth requirements for the content of the report. SECTION 2. Effective date: July 1, 2001, or October 1, 2001.