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