Bill Text: TX HB1400 | 2015-2016 | 84th Legislature | Introduced


Bill Title: Relating to the investment training requirement for certain local government officers.

Spectrum: Partisan Bill (Republican 1-0)

Status: (Introduced - Dead) 2015-03-09 - Referred to Investments & Financial Services [HB1400 Detail]

Download: Texas-2015-HB1400-Introduced.html
  84R6922 TSR-D
 
  By: Anderson of Dallas H.B. No. 1400
 
 
 
A BILL TO BE ENTITLED
 
AN ACT
  relating to the investment training requirement for certain local
  government officers.
         BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS:
         SECTION 1.  Section 2256.008(a), Government Code, is amended
  to read as follows:
         (a)  Except as provided by Subsections (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 six [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.  This Act takes effect September 1, 2015.
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