By: Watson S.B. No. 1386

(In the Senate - Filed March 1, 2019; March 14, 2019, read first time and referred to Committee on Water & Rural Affairs; April 17, 2019, reported adversely, with favorable Committee Substitute by the following vote: Yeas 7, Nays 0; April 17, 2019, sent to printer.) Click here to see the committee vote

COMMITTEE SUBSTITUTE FOR S.B. No. 1386 By: Creighton

A BILL TO BE ENTITLED

AN ACT

relating to the authority of the Texas Water Development Board to consider certain financial matters in a closed meeting.

BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS:

SECTION 1. Subchapter C, Chapter 6, Water Code, is amended by adding Section 6.0601 to read as follows:

Sec. 6.0601. CONSULTATION REGARDING CERTAIN FINANCIAL MATTERS; CLOSED MEETING. (a) The board may hold a closed meeting to consider and discuss financial matters related to the investment or potential investment of the board's funds.

(b) A final action, decision, or vote on a matter considered or discussed in a closed meeting held under this section must be made in an open meeting conducted in compliance with the notice provisions of Chapter 551, Government Code.

SECTION 2. This Act takes effect September 1, 2019.

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