SRC-TBR S.B. 1547 77(R)BILL ANALYSIS


Senate Research CenterS.B. 1547
By: Duncan
Finance
5/21/2001
Enrolled


DIGEST AND PURPOSE 

The comptroller, has an informal, internal investment advisory committee
made up of senior executive staff.  S.B. 1547 directs the comptroller to
establish an investment advisory committee made up of individuals who
posseses the appropriate expertise regarding the various types of
investments the comptroller makes. 

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 404C, Government Code, by adding Section
404.028, as follows: 

Sec. 404.028.  INVESTMENT ADVISORY BOARD. (a)  Requires the comptroller to
establish an investment advisory board to advise the comptroller regarding
investments that the comptroller makes under this subchapter or other law.
Provides that for purposes of this section, the deposit of state funds in a
state depository is not considered an investment. 

(b)  Requires the comptroller to appoint members to the advisory board who
possess the expertise appropriate for advising the comptroller with regard
to one or more types of investments that the comptroller may make. 

(c)  Requires the comptroller to determine the number of members of the
advisory board.  Provides that a member serves on the advisory board at the
will of the comptroller. 

(d)  Provides that Chapter 2110 does not apply to the size, composition, or
duration of the advisory board. 

SECTION 2.  Effective date: upon passage or September 1, 2001.