85R22688 TJB-F
 
  By: Capriglione H.B. No. 3082
 
 
 
A BILL TO BE ENTITLED
 
AN ACT
  relating to the investment training requirement for certain local
  government officers.
         BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS:
         SECTION 1.  Section 2256.008(a), Government Code, as amended
  by Chapters 222 (H.B. 1148) and 1248 (H.B. 870), Acts of the 84th
  Legislature, Regular Session, 2015, is reenacted and amended to
  read as follows:
         (a)  Except as provided by Subsections [(a-1),] (b), [and]
  (e), and (f), the treasurer, the chief financial officer if the
  treasurer is not the chief financial officer, and the investment
  officer of a local government shall:
               (1)  attend at least one training session from an
  independent source approved by the governing body of the local
  government or a designated investment committee advising the
  investment officer as provided for in the investment policy of the
  local government and containing at least 10 hours of instruction
  relating to the treasurer's or officer's responsibilities under
  this subchapter within 12 months after taking office or assuming
  duties; and
               (2)  [except as provided by Subsections (b), (e), and
  (f),] attend an investment training session not less than once in a
  two-year period that begins on the first day of that local
  government's fiscal year and consists of the two consecutive fiscal
  years after that date, and receive not less than the following
  number of [10] hours of instruction relating to investment
  responsibilities under this subchapter from an independent source
  approved by the governing body of the local government or a
  designated investment committee advising the investment officer as
  provided for in the investment policy of the local government:
                     (A)  10 hours if the officer is the county
  treasurer; or
                     (B)  five hours for any other officer to which
  this subsection applies.
         SECTION 2.  Section 2256.008(a-1), Government Code, is
  repealed.
         SECTION 3.  To the extent of any conflict, this Act prevails
  over another Act of the 85th Legislature, Regular Session, 2017,
  relating to nonsubstantive additions to and corrections in enacted
  codes.
         SECTION 4.  This Act takes effect immediately if it receives
  a vote of two-thirds of all the members elected to each house, as
  provided by Section 39, Article III, Texas Constitution.  If this
  Act does not receive the vote necessary for immediate effect, this
  Act takes effect September 1, 2017.