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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, 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), [and] |
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(e), and (f), the treasurer, the chief financial officer if the |
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treasurer is not the chief financial officer, and the investment |
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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 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. Section 2256.008(a-1), Government Code, is |
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repealed. |
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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 immediately if it receives |
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a vote of two-thirds of all the members elected to each house, as |
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provided by Section 39, Article III, Texas Constitution. If this |
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Act does not receive the vote necessary for immediate effect, this |
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Act takes effect September 1, 2017. |