1-1     By:  Woolley (Senate Sponsor - Whitmire)              H.B. No. 3333
 1-2           (In the Senate - Received from the House May 2, 2001;
 1-3     May 3, 2001, read first time and referred to Committee on
 1-4     Intergovernmental Relations; May 10, 2001, reported favorably by
 1-5     the following vote:  Yeas 6, Nays 0; May 10, 2001, sent to
 1-6     printer.)
 1-7                            A BILL TO BE ENTITLED
 1-8                                   AN ACT
 1-9     relating to permissible investments by deferred compensation plans
1-10     for employees of political subdivisions.
1-11           BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS:
1-12           SECTION 1. Section 609.101(3), Government Code, is amended to
1-13     read as follows:
1-14                 (3)  "Investment product" includes a life insurance
1-15     policy, fixed or variable rate annuity, mutual fund, certificate of
1-16     deposit, money market account, [and] passbook savings account,
1-17     stock, bond, obligation, and any other investment product not
1-18     prohibited under Section 457 or 401(k), Internal Revenue Code of
1-19     1986, as amended.
1-20           SECTION 2. This Act takes effect September 1, 2001.
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