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	Amend SB 1332 (house committee printing) by adding the 
following sections to the bill, numbered appropriately, and 
renumbering the subsequent sections of the bill accordingly:
	SECTION ____.  Section 1231.001, Government Code, is amended 
by adding Subdivision (1-a) to read as follows:
		(1-a)  "Interest rate management agreement" means an 
agreement that provides for an interest rate transaction, including 
a swap, basis, forward, option, cap, collar, floor, lock, or hedge 
transaction, for a transaction similar to those types of 
transactions, or for a combination of any of those types of 
transactions.  The term includes:
			(A)  a master agreement that provides standard 
terms for transactions;
			(B)  an agreement to transfer collateral as 
security for transactions; and
			(C)  a confirmation of transactions.                                  
	SECTION ____.  Section 1231.023(c), Government Code, is 
amended to read as follows:
	(c)  The board shall adopt policies that:                                      
		(1)  provide a mechanism for evaluating the amount of 
state debt that can be managed prudently;
		(2)  address opportunities to consolidate debt 
authority;                   
		(3)  include guidelines for:                                                  
			(A)  appropriate levels of reserves;                                         
			(B)  the types of state security that should be 
issued under various circumstances; and
			(C)  the terms or structure of a state security;                             
		(4)  help the board and issuers of state securities to 
evaluate:            
			(A)  the potential risks involved in the issuance 
of a state security or in the execution of an interest rate 
management agreement;  and
			(B)  the effect that the issuance of a state 
security or that the execution of an interest rate management 
agreement will have on the finances and on the overall debt position 
of the issuer and of the state;  and
		(5)  recommend other advisable practices related to the 
issuance of a state security.