By: Creighton S.B. No. 1489

(In the Senate - Filed March 2, 2023; March 16, 2023, read first time and referred to Subcommittee on Higher Education; April 27, 2023, reported favorably from Committee on Education by the following vote: Yeas 10, Nays 3; April 27, 2023, sent to printer.) Click here to see the committee vote

A BILL TO BE ENTITLED

AN ACT

relating to prohibiting the investment of the permanent university fund, the national research university fund, or money held by a public institution of higher education in financial companies that boycott certain energy companies.

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

SECTION 1. Section 51.0031, Education Code, is amended by adding Subsection (e) to read as follows:

(e) Chapter 809, Government Code, applies to a governing board as if the governing board were a state governmental entity under that chapter.

SECTION 2. Section 62.143, Education Code, is amended by adding Subsection (c) to read as follows:

(c) Chapter 809, Government Code, applies to the national research university fund as if the fund were a state governmental entity under that chapter.

SECTION 3. Subchapter A, Chapter 66, Education Code, is amended by adding Section 66.015 to read as follows:

Sec. 66.015. PROHIBITION ON INVESTMENT IN FINANCIAL COMPANIES THAT BOYCOTT CERTAIN ENERGY COMPANIES. Notwithstanding Section 66.01, Chapter 809, Government Code, applies to the permanent university fund as if the fund were a state governmental entity under that chapter.

SECTION 4. This Act takes effect September 1, 2023.

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