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Amend CSHB 3459 (Senate committee report) as follows:                        
	(1)  On page 1, line 42, after the word "Subchapter" strike 
the letter "A".  
	(2)  On page 8, line 4, strike "39.051(a)" and add 
"39.031(a)".              
	(3)  On page 10, line 50, insert  a new SECTION 27.                            
	(4)  SECTION 27.  Section 45.201, Education Code, is amended 
by amending Subsection (4) to read as follows:
(4)  "Approved securities" means:                                               
(A)  bonds of this state or any agency or 
political subdivision of this state;
(B)  all evidences of indebtedness legally 
issued by the board of trustees of the depositing school district;
(C)  all debt securities that are a direct 
obligation of the treasury of the United States;
(D)  other obligations, includingall debt 
securities, except reducing principal balance securities, the 
principal and interest of which are unconditionally guaranteed or 
insured by, or backed in the event of default by the full faith and 
credit of, this state or the United States or their respective 
agencies and instrumentalities; and
(E)  those securities provided for by Article 
842, Revised Statutes, and Section 1, Chapter 160, General Laws, 
Acts of the 43rd Legislature, 1933 (Article 842a, Vernon's Texas 
Civil Statutes).
	(5)  Delete SECTION 30 on  page 11, line 48 through page 12, 
line 9.         
	(6)  On page 12, line 21, insert a new SECTION 32.                             
	SECTION 32.  Section 2257.022, Government Code, is amended 
to read as follows:
	Sec. 2257.022.  AMOUNT OF COLLATERAL.  (a)  Except as 
provided by Subsection (b), the The total value of eligible 
security to secure a deposit of public funds must be in an amount 
not less than the amount of the deposit of public funds:
(1)  increased by the amount of any accrued interest; 
and                     
(2)  reduced to the extent that the United States or an 
instrumentality of the United States insures the deposit.
	(b)  The total value of eligible security described by 
Section 45.201(4)(D), Education Code, to secure a deposit of public 
funds of a school district must be in an amount not less than 110 
percent of the amount of the deposit.  The total market value of the 
eligible security must be reported at least once each month to the 
school district.
	(c)  The value of a surety bond is its face value.                      
	(d) (c)  The value of an investment security is its market 
value.
	(7)  Renumber Accordingly.                                                     

	
The floor amendment was read and was adopted by a viva voce 
vote.