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AN ACT
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relating to the investment training requirement for certain local |
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government financial officers. |
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BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: |
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SECTION 1. Section 2256.008, Government Code, is amended by |
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amending Subsection (a) and adding Subsection (a-1) to read as |
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follows: |
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(a) Except as provided by Subsections (a-1), (b), and (e), |
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the treasurer, the chief financial officer if the treasurer is not |
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the chief financial officer, and the investment officer of a local |
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government shall: |
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(1) attend at least one training session from an |
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independent source approved by the governing body of the local |
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government or a designated investment committee advising the |
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investment officer as provided for in the investment policy of the |
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local government and containing at least 10 hours of instruction |
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relating to the treasurer's or officer's responsibilities under |
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this subchapter within 12 months after taking office or assuming |
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duties; and |
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(2) [except as provided by Subsections (b) and (e),] |
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attend an investment training session not less than once in a |
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two-year period that begins on the first day of that local |
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government's fiscal year and consists of the two consecutive fiscal |
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years after that date, and receive not less than 10 hours of |
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instruction relating to investment responsibilities under this |
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subchapter from an independent source approved by the governing |
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body of the local government or a designated investment committee |
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advising the investment officer as provided for in the investment |
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policy of the local government. |
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(a-1) In addition to the requirements of Subsection (a)(1), |
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the treasurer, or the chief financial officer if the treasurer is |
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not the chief financial officer, and the investment officer of a |
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school district or a municipality shall attend an investment |
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training session not less than once in a two-year period that begins |
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on the first day of the school district's or municipality's fiscal |
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year and consists of the two consecutive fiscal years after that |
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date, and receive not less than eight hours of instruction relating |
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to investment responsibilities under this subchapter from an |
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independent source approved by the governing body of the school |
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district or municipality, or by a designated investment committee |
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advising the investment officer as provided for in the investment |
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policy of the school district or municipality. |
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SECTION 2. This Act takes effect September 1, 2015. |
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______________________________ |
______________________________ |
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President of the Senate |
Speaker of the House |
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I certify that H.B. No. 870 was passed by the House on April |
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30, 2015, by the following vote: Yeas 133, Nays 6, 1 present, not |
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voting; and that the House concurred in Senate amendments to H.B. |
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No. 870 on May 28, 2015, by the following vote: Yeas 143, Nays 3, 2 |
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present, not voting. |
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______________________________ |
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Chief Clerk of the House |
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I certify that H.B. No. 870 was passed by the Senate, with |
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amendments, on May 26, 2015, by the following vote: Yeas 21, Nays |
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10. |
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______________________________ |
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Secretary of the Senate |
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APPROVED: __________________ |
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Date |
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__________________ |
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Governor |