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A BILL TO BE ENTITLED
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AN ACT
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relating to consideration of whether banks, credit unions, and |
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investment pools are located in this state in investment policies |
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adopted by local governments. |
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BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: |
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SECTION 1. Section 2256.005, Government Code, is amended by |
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adding Subsection (c-1) to read as follows: |
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(c-1) The investment policies for a local government may |
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allow a local government to use in the local government's |
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evaluation criteria a consideration of whether an authorized |
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investment described by this subchapter is in a bank, credit union, |
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or investment pool with a physical location and staff located in |
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this state. |
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SECTION 2. 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, 2025. |