Honorable Byron Cook, Chair, House Committee on State Affairs
FROM:
Ursula Parks, Director, Legislative Budget Board
IN RE:
HB89 by King, Phil (Relating to state contracts with and investments in companies that boycott Israel.), Committee Report 1st House, Substituted
The bill would add Chapter 808 to the Texas Government Code to prohibit certain state governmental entities from investing in companies engaged in a boycott of a person or entity doing business in Israel or in an Israeli-controlled territory. State public retirement systems that qualify under the bill include the Employees Retirement System, the Teacher Retirement System, the Texas Municipal Retirement System, the Texas County and District Retirement System, and the Texas Emergency Services Retirement System. The provisions of the bill could potentially impact the investment decisions made by these governmental entities, and could cause the entities to sell certain current investment holdings.
The bill, if enacted, would not have a significant actuarial effect because it does not propose to change the funding or obligations of any public retirement system.