RESOLUTION ANALYSIS

 

 

 

H.J.R. 143

By: Bonnen, Greg

Pensions, Investments & Financial Services

Committee Report (Unamended)

 

 

 

BACKGROUND AND PURPOSE

 

Concerns have arisen within the legislature that certain funds held and maintained outside the reach of the legislature do not undergo the same scrutiny or operate under the same degree of legislative oversight as other funds in the state. It has been suggested that constitutional authority to perform that scrutiny and oversight is lacking and should be better established. H.J.R. 143 proposes a constitutional amendment to provide the legislature with this authority.

 

CRIMINAL JUSTICE IMPACT

 

It is the committee's opinion that this resolution does not expressly create a criminal offense, increase the punishment for an existing criminal offense or category of offenses, or change the eligibility of a person for community supervision, parole, or mandatory supervision.

 

RULEMAKING AUTHORITY

 

It is the committee's opinion that this resolution does not expressly grant any additional rulemaking authority to a state officer, department, agency, or institution.

 

ANALYSIS

 

H.J.R. 143 proposes an amendment to the Texas Constitution to authorize the legislature by law to vest the power to invest and manage any public funds, other than the permanent university fund, in any public officer of the state, a board composed of such public officers, or an entity that is governed by appointees of such public officers.

 

ELECTION DATE

 

The constitutional amendment proposed by this joint resolution will be submitted to the voters at an election to be held November 5, 2019.