Bill Text: TX HB1148 | 2015-2016 | 84th Legislature | Enrolled
Bill Title: Relating to the investment training requirement for certain municipal officers.
Spectrum: Partisan Bill (Republican 2-0)
Status: (Passed) 2015-05-29 - Effective on 9/1/15 [HB1148 Detail]
Download: Texas-2015-HB1148-Enrolled.html
| H.B. No. 1148 | ||
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| relating to the investment training requirement for certain | ||
| municipal officers. | ||
| BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: | ||
| SECTION 1. Section 2256.008, Government Code, is amended by | ||
| amending Subsection (a) and adding Subsection (f) to read as | ||
| follows: | ||
| (a) Except as provided by Subsections (b) and (e), the | ||
| treasurer, the chief financial officer if the treasurer is not the | ||
| chief financial officer, and the investment officer of a local | ||
| government shall: | ||
| (1) attend at least one training session from an | ||
| independent source approved by the governing body of the local | ||
| government or a designated investment committee advising the | ||
| investment officer as provided for in the investment policy of the | ||
| local government and containing at least 10 hours of instruction | ||
| relating to the treasurer's or officer's responsibilities under | ||
| this subchapter within 12 months after taking office or assuming | ||
| duties; and | ||
| (2) except as provided by Subsections (b), [ |
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| and (f), attend an investment training session not less than once in | ||
| a two-year period that begins on the first day of that local | ||
| government's fiscal year and consists of the two consecutive fiscal | ||
| years after that date, and receive not less than 10 hours of | ||
| instruction relating to investment responsibilities under this | ||
| subchapter from an independent source approved by the governing | ||
| body of the local government or a designated investment committee | ||
| advising the investment officer as provided for in the investment | ||
| policy of the local government. | ||
| (f) Subsection (a)(2) does not apply to an officer of a | ||
| municipality if the municipality: | ||
| (1) does not invest municipal funds; or | ||
| (2) only deposits municipal funds in: | ||
| (A) interest-bearing deposit accounts; or | ||
| (B) certificates of deposit as authorized by | ||
| Section 2256.010. | ||
| SECTION 2. This Act takes effect September 1, 2015. | ||
| ______________________________ | ______________________________ | |
| President of the Senate | Speaker of the House | |
| I certify that H.B. No. 1148 was passed by the House on April | ||
| 16, 2015, by the following vote: Yeas 146, Nays 0, 2 present, not | ||
| voting. | ||
| ______________________________ | ||
| Chief Clerk of the House | ||
| I certify that H.B. No. 1148 was passed by the Senate on May | ||
| 15, 2015, by the following vote: Yeas 31, Nays 0. | ||
| ______________________________ | ||
| Secretary of the Senate | ||
| APPROVED: _____________________ | ||
| Date | ||
| _____________________ | ||
| Governor | ||
