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A BILL TO BE ENTITLED
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AN ACT
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relating to investment of local governments' money in banks located |
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in this state. |
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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 (b-1) to read as follows: |
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(b-1) The investment policies for a local government must |
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require at least 35 percent of the local government's funds that the |
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governing body of the local government determines are available for |
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investment to be invested in an authorized investment described by |
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Section 2256.009(a)(7) or (8) or 2256.010 in a bank located in this |
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state. |
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SECTION 2. This Act takes effect January 1, 2026. |