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	Amend CSHB 3900 (house committee report) as follows:                         
	(1)  On page 18, line 15, strike "comply with Section 
54.704." and substitute the following:

:                                                                      
		(1)  select a person who has served as a professional 
investment manager for at least 10 years;
		(2)  evaluate each person considered for the position 
based on the historical net returns of the person's professional 
investments and the consistency of the person's professional 
investment returns over a period of at least five years; and
		(3)  comply with Section 54.704.                                       
	(c)                                                                     
	(2)  On page 18, line 19, strike "The board shall pay the plan 
manager a".
	(3)  Strike lines 20-22.                                                       
	(4)  On page 18, line 23, strike "(c)" and substitute "(d)".     
	(5)  On page 18, line 27, strike "(d)" and substitute "(e)".