Bill Text: TX HB1238 | 2017-2018 | 85th Legislature | Enrolled
Bill Title: Relating to investment training for officers of public housing authorities.
Spectrum: Partisan Bill (Republican 2-0)
Status: (Passed) 2017-06-15 - Effective on 9/1/17 [HB1238 Detail]
Download: Texas-2017-HB1238-Enrolled.html
H.B. No. 1238 |
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relating to investment training for officers of public housing | ||
authorities. | ||
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: | ||
SECTION 1. Section 2256.008(a), Government Code, as amended | ||
by Chapters 222 (H.B. 1148) and 1248 (H.B. 870), Acts of the 84th | ||
Legislature, Regular Session, 2015, is reenacted and amended to | ||
read as follows: | ||
(a) Except as provided by Subsections (a-1), (b), (b-1), | ||
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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) [ |
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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. | ||
SECTION 2. Section 2256.008, Government Code, is amended by | ||
adding Subsection (b-1) and amending Subsection (f) to read as | ||
follows: | ||
(b-1) A housing authority created under Chapter 392, Local | ||
Government Code, may satisfy the training requirement provided by | ||
Subsection (a)(2) by requiring the following person to attend, in | ||
each two-year period that begins on the first day of that housing | ||
authority's fiscal year and consists of the two consecutive fiscal | ||
years after that date, at least five hours of appropriate | ||
instruction: | ||
(1) the treasurer, or the chief financial officer if | ||
the treasurer is not the chief financial officer, or the investment | ||
officer; or | ||
(2) if the authority does not have an officer | ||
described by Subdivision (1), another officer of the authority. | ||
(f) Subsection (a)(2) does not apply to an officer of a | ||
municipality or housing authority if the municipality or housing | ||
authority: | ||
(1) does not invest municipal or housing authority | ||
funds, as applicable; or | ||
(2) only deposits those [ |
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(A) interest-bearing deposit accounts; or | ||
(B) certificates of deposit as authorized by | ||
Section 2256.010. | ||
SECTION 3. To the extent of any conflict, this Act prevails | ||
over another Act of the 85th Legislature, Regular Session, 2017, | ||
relating to nonsubstantive additions to and corrections in enacted | ||
codes. | ||
SECTION 4. This Act takes effect September 1, 2017. | ||
______________________________ | ______________________________ | |
President of the Senate | Speaker of the House | |
I certify that H.B. No. 1238 was passed by the House on May 4, | ||
2017, by the following vote: Yeas 142, Nays 1, 2 present, not | ||
voting. | ||
______________________________ | ||
Chief Clerk of the House | ||
I certify that H.B. No. 1238 was passed by the Senate on May | ||
24, 2017, by the following vote: Yeas 31, Nays 0. | ||
______________________________ | ||
Secretary of the Senate | ||
APPROVED: _____________________ | ||
Date | ||
_____________________ | ||
Governor |