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A BILL TO BE ENTITLED
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AN ACT
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relating to a study by the comptroller on the use of call options by |
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state government as a hedge against inflation in the cost of |
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commodities purchased by state government. |
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BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: |
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SECTION 1. Subchapter B, Chapter 2155, Government Code, is |
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amended by adding Section 2155.0615 to read as follows: |
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Sec. 2155.0615. STUDY ON USE OF CALL OPTIONS. (a) The |
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comptroller shall conduct a study on the feasibility and |
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advisability of the use of call options by state government as a |
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hedge against the possibility of dramatic inflation in the cost of |
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commodities purchased by state government. |
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(b) The study must address the costs, potential cost |
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savings, and risks involved in the use by state government of call |
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options for purchased commodities and the conditions under which |
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the use of call options would and would not be advisable. |
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(c) The comptroller shall complete the study and make the |
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results of the study available electronically not later than |
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January 2, 2011. |
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(d) This section expires September 1, 2011. |
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SECTION 2. This Act takes effect September 1, 2009. |