Bill Text: TX HB1612 | 2019-2020 | 86th Legislature | Enrolled

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Bill Title: Relating to the authority of the Teacher Retirement System of Texas to invest in certain hedge funds.

Spectrum: Partisan Bill (Republican 2-0)

Status: (Passed) 2019-05-23 - Effective immediately [HB1612 Detail]

Download: Texas-2019-HB1612-Enrolled.html

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H.B. No. 1612

AN ACT
relating to the authority of the Teacher Retirement System of Texas
to invest in certain hedge funds.
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS:
SECTION 1. Section 825.3012(b), Government Code, is amended
to read as follows:
(b) Notwithstanding any provision of Section 825.301, not
more than 10 [five] percent of the value of the total investment
portfolio of the retirement system may be invested in hedge funds.
SECTION 2. Section 825.3012(b-1), Government Code, is
repealed.
SECTION 3. This Act takes effect immediately if it receives
a vote of two-thirds of all the members elected to each house, as
provided by Section 39, Article III, Texas Constitution. If this
Act does not receive the vote necessary for immediate effect, this
Act takes effect on the 91st day after the last day of the
legislative session.
______________________________ ______________________________
President of the Senate Speaker of the House
I certify that H.B. No. 1612 was passed by the House on April
10, 2019, by the following vote: Yeas 145, Nays 1, 1 present, not
voting.
______________________________
Chief Clerk of the House
I certify that H.B. No. 1612 was passed by the Senate on May
10, 2019, by the following vote: Yeas 31, Nays 0.
______________________________
Secretary of the Senate
APPROVED: _____________________
Date
_____________________
Governor