Bill Text: TX SB940 | 2015-2016 | 84th Legislature | Introduced

NOTE: There are more recent revisions of this legislation. Read Latest Draft

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Bill Title: Relating to the notification duties of a state governmental entity with public retirement system investment holdings in Sudan or Iran.

Spectrum: Bipartisan Bill

Status: (Passed) 2015-06-16 - Effective on 9/1/15 [SB940 Detail]

Download: Texas-2015-SB940-Introduced.html

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84R11329 TSR-D
By: Taylor of Collin S.B. No. 940

A BILL TO BE ENTITLED
AN ACT
relating to the notification and reporting duties of a state
governmental entity with public retirement system investment
holdings in Sudan or Iran.
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS:
SECTION 1. Section 806.052, Government Code, is amended to
read as follows:
Sec. 806.052. IDENTIFICATION OF INVESTMENT IN LISTED
COMPANIES. Not later than the 30th [14th] day after the date a
state governmental entity receives the list provided under Section
806.051 [806.051(c)], the state governmental entity shall notify
the comptroller of the listed companies in which the state
governmental entity owns direct or indirect holdings.
SECTION 2. Section 806.102, Government Code, is amended to
read as follows:
Sec. 806.102. REPORT. Not later than the 30th day after the
date a state governmental entity receives the list provided under
Section 806.051 for a specific year or the last updated version of
the list for that year, the [December 31 of each year, each] state
governmental entity shall file a publicly available report with the
presiding officer of each house of the legislature, the attorney
general, and the United States presidential special envoy to Sudan
that:
(1) identifies all investments sold, redeemed,
divested, or withdrawn in compliance with Section 806.056;
(2) identifies all prohibited investments under
Section 806.059; and
(3) summarizes any changes made under Section 806.057.
SECTION 3. Section 807.052, Government Code, is amended to
read as follows:
Sec. 807.052. IDENTIFICATION OF INVESTMENT IN LISTED
COMPANIES. Not later than the 30th [14th] day after the date a
state governmental entity receives the list provided under Section
807.051, the state governmental entity shall notify the board of
the listed companies in which the state governmental entity owns
direct holdings or indirect holdings.
SECTION 4. Section 807.102, Government Code, is amended to
read as follows:
Sec. 807.102. REPORT. Not later than the 30th day after the
date a state governmental entity receives the list provided under
Section 807.051 for a specific year or the last updated version of
the list for that year, the [December 31 of each year, each] state
governmental entity shall file a publicly available report with the
presiding officer of each house of the legislature and the attorney
general that:
(1) identifies all securities sold, redeemed,
divested, or withdrawn in compliance with Section 807.055;
(2) identifies all prohibited investments under
Section 807.058; and
(3) summarizes any changes made under Section 807.056.
SECTION 5. This Act takes effect September 1, 2015.