83R8660 KFF-D
 
  By: Alvarado H.B. No. 2480
 
 
 
A BILL TO BE ENTITLED
 
AN ACT
  relating to the investment authority of the Employees Retirement
  System of Texas.
         BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS:
         SECTION 1.  Section 815.301(h)(1), Government Code, is
  amended to read as follows:
               (1)  "Emerging fund manager" means a private
  professional investment manager that manages assets of not more
  than $5 [$2] billion.
         SECTION 2.  The change in law made by this Act applies only
  to a contract between the board of trustees of the Employees
  Retirement System of Texas and an emerging fund manager under
  Section 815.301(c), Government Code, that is awarded on or after
  the effective date of this Act. A contract awarded before the
  effective date of this Act is governed by the law in effect on the
  date the contract was awarded, and that law is continued in effect
  for that purpose.
         SECTION 3.  This Act takes effect September 1, 2013.