By Wilson H.J.R. No. 86 77R7275 JJT-D A JOINT RESOLUTION 1-1 proposing a constitutional amendment to establish the State 1-2 Investment Commission, with authority to invest state funds. 1-3 BE IT RESOLVED BY THE LEGISLATURE OF THE STATE OF TEXAS: 1-4 SECTION 1. Article XVI, Texas Constitution, is amended by 1-5 adding Section 72 to read as follows: 1-6 Sec. 72. (a) The State Investment Commission is composed of 1-7 six commissioners appointed by the governor with the advice and 1-8 consent of two-thirds of the senate present. Commissioners serve 1-9 terms of six years, with the terms of two commissioners expiring 1-10 June 1 of each odd-numbered year. 1-11 (b) Notwithstanding any other provision of this 1-12 constitution, the State Investment Commission has full authority to 1-13 manage and direct the investment of all money held, in trust or 1-14 otherwise, by the state, a state official, or an agency or other 1-15 institution of the state as the legislature may provide. 1-16 SECTION 2. This proposed constitutional amendment shall be 1-17 submitted to the voters at an election to be held November 6, 2001. 1-18 The ballot shall be printed to permit voting for or against the 1-19 proposition: "The constitutional amendment establishing the State 1-20 Investment Commission to manage the investment of money received by 1-21 state government."