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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 local |
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government 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(a), Government Code, is amended |
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to read as follows: |
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(a) Except as provided by Subsections (b) and (e), the |
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treasurer, the chief financial officer if the treasurer is not the |
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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 five [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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SECTION 2. This Act takes effect September 1, 2015. |