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A BILL TO BE ENTITLED
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AN ACT
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relating to the investment training requirement for certain school |
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district 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 shall attend an investment training session not |
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less than once in a two-year period that begins on the first day of |
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the school district's fiscal year and consists of the two |
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consecutive fiscal years after that date, and receive not less than |
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five hours of instruction relating to investment responsibilities |
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under this subchapter from an independent source approved by the |
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board of trustees of the school district or a designated investment |
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committee advising the investment officer as provided for in the |
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investment policy of the school district. |
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SECTION 2. This Act takes effect September 1, 2015. |