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A BILL TO BE ENTITLED
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AN ACT
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relating to the development and maintenance by the Employees |
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Retirement System of Texas and the Teacher Retirement System of |
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Texas of an online investment tracking database. |
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BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: |
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SECTION 1. Subchapter D, Chapter 815, Government Code, is |
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amended by adding Section 815.3014 to read as follows: |
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Sec. 815.3014. ONLINE INVESTMENT TRACKING DATABASE. (a) |
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In this section: |
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(1) "Foreign business entity" means a business entity |
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formed under, and the internal affairs of which are governed by, the |
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laws of a foreign jurisdiction. |
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(2) "Foreign jurisdiction" means a country or other |
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jurisdiction that is not the United States or a state of the United |
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States. |
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(b) Subject to Section 815.503 and Chapter 552, including |
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Sections 552.0225, 552.110, 552.1101, and 552.143, and other |
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applicable federal and state law, the retirement system shall |
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develop and maintain on the system's Internet website a publicly |
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searchable investment tracking database that allows the public to |
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view and search how and where the system's funds are invested. The |
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database must, to the extent possible, detail the information |
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described by Section 552.0225(b) with respect to each investment, |
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including investments in securities issued by foreign business |
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entities. |
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SECTION 2. Subchapter D, Chapter 825, Government Code, is |
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amended by adding Section 825.3014 to read as follows: |
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Sec. 825.3014. ONLINE INVESTMENT TRACKING DATABASE. (a) |
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In this section: |
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(1) "Foreign business entity" means a business entity |
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formed under, and the internal affairs of which are governed by, the |
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|
laws of a foreign jurisdiction. |
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(2) "Foreign jurisdiction" means a country or other |
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jurisdiction that is not the United States or a state of the United |
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States. |
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(b) Subject to Section 825.507 and Chapter 552, including |
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Sections 552.0225, 552.110, 552.1101, and 552.143, and other |
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|
applicable federal and state law, the retirement system shall |
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|
develop and maintain on the system's Internet website a publicly |
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|
searchable investment tracking database that allows the public to |
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|
view and search how and where the system's funds are invested. The |
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|
database must, to the extent possible, detail the information |
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|
described by Section 552.0225(b) with respect to each investment, |
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including investments in securities issued by foreign business |
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entities. |
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SECTION 3. As soon as practicable after the effective date |
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of this Act: |
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(1) the Employees Retirement System of Texas shall |
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develop and publish on the system's Internet website the investment |
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tracking database required under Section 815.3014, Government |
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Code, as added by this Act; and |
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(2) the Teacher Retirement System of Texas shall |
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develop and publish on the system's Internet website the investment |
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tracking database required under Section 825.3014, Government |
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Code, as added by this Act. |
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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, 2021. |