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A BILL TO BE ENTITLED
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AN ACT
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relating to the requirement that governmental entities give |
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preference to Texas-based companies in awarding certain financial |
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services contracts. |
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BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: |
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SECTION 1. Section 2252.002, Government Code, is amended to |
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read as follows: |
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Sec. 2252.002. AWARD OF CONTRACT TO CERTAIN BIDDERS |
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[NONRESIDENT BIDDER]. (a) A governmental entity may not award a |
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governmental contract to a nonresident bidder unless the |
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nonresident underbids the lowest bid submitted by a responsible |
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resident bidder by an amount that is not less than the amount by |
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which a resident bidder would be required to underbid the |
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nonresident bidder to obtain a comparable contract in the state in |
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which the nonresident's principal place of business is located. |
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(b) A governmental entity shall give preference to a |
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resident bidder, including a historically underutilized business, |
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in awarding a contract for a financial advisor or service provider, |
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as defined by Section 2263.002, that will provide services to a |
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pension system. |
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SECTION 2. Section 2252.002(b), Government Code, as added |
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by this Act, applies only to a contract for which a governmental |
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entity first accepts bids or other applicable expressions of |
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interest on or after the effective date of this Act. A contract for |
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which a governmental entity first accepts bids or other applicable |
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expressions of interest before that date is governed by the law in |
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effect immediately before the effective date of this Act, and the |
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former law is continued in effect for that purpose. |
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SECTION 3. This Act takes effect September 1, 2007. |