Bill Text: TX HB293 | 2019-2020 | 86th Legislature | Enrolled
Bill Title: Relating to investment training requirements for school district financial officers.
Spectrum: Partisan Bill (Republican 3-0)
Status: (Passed) 2019-06-07 - Effective immediately [HB293 Detail]
Download: Texas-2019-HB293-Enrolled.html
| H.B. No. 293 | ||
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| relating to investment training requirements for school district | ||
| financial 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-1) and adding Subsection (g) to read as | ||
| follows: | ||
| (a-1) Except as provided by Subsection (g) [ |
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| financial officer if the treasurer is not the chief financial | ||
| officer, and the investment officer of a school district or a | ||
| municipality, in addition to the requirements of Subsection (a)(1), | ||
| shall attend an investment training session not less than once in a | ||
| two-year period that begins on the first day of the school | ||
| district's or municipality's fiscal year and consists of the two | ||
| consecutive fiscal years after that date, and receive not less than | ||
| eight hours of instruction relating to investment responsibilities | ||
| under this subchapter from an independent source approved by the | ||
| governing body of the school district or municipality, or by a | ||
| designated investment committee advising the investment officer as | ||
| provided for in the investment policy of the school district or | ||
| municipality. | ||
| (g) Subsection (a-1) does not apply to the treasurer, chief | ||
| financial officer, or investment officer of a school district if: | ||
| (1) the district: | ||
| (A) does not invest district funds; or | ||
| (B) only deposits those funds in: | ||
| (i) interest-bearing deposit accounts; or | ||
| (ii) certificates of deposit as authorized | ||
| by Section 2256.010; and | ||
| (2) the treasurer, chief financial officer, or | ||
| investment officer annually submits to the agency a sworn affidavit | ||
| identifying the applicable criteria under Subdivision (1) that | ||
| apply to the district. | ||
| SECTION 2. 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 September 1, 2019. | ||
| ______________________________ | ______________________________ | |
| President of the Senate | Speaker of the House | |
| I certify that H.B. No. 293 was passed by the House on April | ||
| 5, 2019, by the following vote: Yeas 143, Nays 0, 1 present, not | ||
| voting; and that the House concurred in Senate amendments to H.B. | ||
| No. 293 on May 22, 2019, by the following vote: Yeas 143, Nays 0, 1 | ||
| present, not voting. | ||
| ______________________________ | ||
| Chief Clerk of the House | ||
| I certify that H.B. No. 293 was passed by the Senate, with | ||
| amendments, on May 15, 2019, by the following vote: Yeas 31, Nays | ||
| 0. | ||
| ______________________________ | ||
| Secretary of the Senate | ||
| APPROVED: __________________ | ||
| Date | ||
| __________________ | ||
| Governor | ||
