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A BILL TO BE ENTITLED
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AN ACT
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relating to investment training for officers of public housing |
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authorities. |
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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, as amended |
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by Chapters 222 (H.B. 1148) and 1248 (H.B. 870), Acts of the 84th |
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Legislature, Regular Session, 2015, is reenacted and amended to |
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read as follows: |
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(a) Except as provided by Subsections (a-1), (b), (b-1), |
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[and] (e), and (f), the treasurer, the chief financial officer if |
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the treasurer is not the chief financial officer, and the |
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investment officer of a local 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), (e), and
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(f),] 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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SECTION 2. Section 2256.008, Government Code, is amended by |
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adding Subsection (b-1) and amending Subsection (f) to read as |
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follows: |
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(b-1) A housing authority created under Chapter 392, Local |
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Government Code, may satisfy the training requirement provided by |
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Subsection (a)(2) by requiring the following person to attend, in |
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each two-year period that begins on the first day of that housing |
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authority's fiscal year and consists of the two consecutive fiscal |
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years after that date, at least five hours of appropriate |
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instruction: |
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(1) the treasurer, or the chief financial officer if |
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the treasurer is not the chief financial officer, or the investment |
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officer; or |
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(2) if the authority does not have an officer |
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described by Subdivision (1), another officer of the authority. |
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(f) Subsection (a)(2) does not apply to an officer of a |
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municipality or housing authority if the municipality or housing |
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authority: |
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(1) does not invest municipal or housing authority |
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funds, as applicable; or |
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(2) only deposits those [municipal] funds in: |
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(A) interest-bearing deposit accounts; or |
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(B) certificates of deposit as authorized by |
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Section 2256.010. |
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SECTION 3. To the extent of any conflict, this Act prevails |
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over another Act of the 85th Legislature, Regular Session, 2017, |
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relating to nonsubstantive additions to and corrections in enacted |
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codes. |
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SECTION 4. This Act takes effect September 1, 2017. |
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