H.B. No. 870
 
 
 
 
AN ACT
  relating to the investment training requirement for certain local
  government 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) and adding Subsection (a-1) to read as
  follows:
         (a)  Except as provided by Subsections (a-1), (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) and (e),]
  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.
         (a-1)  In addition to the requirements of Subsection (a)(1),
  the treasurer, or the chief financial officer if the treasurer is
  not the chief financial officer, and the investment officer of a
  school district or a municipality 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.
         SECTION 2.  This Act takes effect September 1, 2015.
 
 
  ______________________________ ______________________________
     President of the Senate Speaker of the House     
 
 
         I certify that H.B. No. 870 was passed by the House on April
  30, 2015, by the following vote:  Yeas 133, Nays 6, 1 present, not
  voting; and that the House concurred in Senate amendments to H.B.
  No. 870 on May 28, 2015, by the following vote:  Yeas 143, Nays 3, 2
  present, not voting.
 
  ______________________________
  Chief Clerk of the House   
 
         I certify that H.B. No. 870 was passed by the Senate, with
  amendments, on May 26, 2015, by the following vote:  Yeas 21, Nays
  10.
 
  ______________________________
  Secretary of the Senate   
  APPROVED: __________________
                  Date       
   
           __________________
                Governor