1-1                                   AN ACT
 1-2     relating to permissible investments by deferred compensation plans
 1-3     for employees of political subdivisions.
 1-4           BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS:
 1-5           SECTION 1. Section 609.101(3), Government Code, is amended to
 1-6     read as follows:
 1-7                 (3)  "Investment product" includes a life insurance
 1-8     policy, fixed or variable rate annuity, mutual fund, certificate of
 1-9     deposit, money market account, [and] passbook savings account,
1-10     stock, bond, obligation, and any other investment product not
1-11     prohibited under Section 457 or 401(k), Internal Revenue Code of
1-12     1986, as amended.
1-13           SECTION 2. This Act takes effect September 1, 2001.
         _______________________________     _______________________________
             President of the Senate              Speaker of the House
               I certify that H.B. No. 3333 was passed by the House on May
         1, 2001, by a non-record vote.
                                             _______________________________
                                                 Chief Clerk of the House
               I certify that H.B. No. 3333 was passed by the Senate on May
         22, 2001, by the following vote:  Yeas 30, Nays 0, 1 present, not
         voting.
                                             _______________________________
                                                 Secretary of the Senate
         APPROVED:  __________________________
                              Date
                    __________________________
                            Governor