| TO: | Honorable Bill Callegari, Chair, House Committee on Pensions |
| FROM: | Ursula Parks, Director, Legislative Budget Board |
| IN RE: | HB819 by Taylor, Van (Relating to prohibiting the investment of retirement system funds in certain private business entities doing business in Iran.), Committee Report 1st House, Substituted |
CSHB 819 would prohibit certain state governmental entities from investing in companies engaged in certain business operations with the government of Iran. State governmental entities that qualify under CSHB 819 include the Employees Retirement System of Texas (ERS) and other retirement systems administered by ERS, the Teacher Retirement System of Texas, the Texas Municipal Retirement System, the Texas County and District Retirement System, and the Texas Emergency Services Retirement System. The provisions of the bill could potentially impact the investment decisions made by these governmental entities, and could cause the entities to sell certain current investment holdings.
The bill, if enacted, will have no significant actuarial effect because it does not propose to change the funding or obligations of any public retirement system.
| Source Agencies: | 338 Pension Review Board
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| LBB Staff: | UP, WM
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