Bill Text: TX SB1666 | 2011-2012 | 82nd Legislature | Comm Sub
Bill Title: Relating to the authority of the Teacher Retirement System of Texas to invest in hedge funds.
Spectrum: Partisan Bill (Republican 1-0)
Status: (Introduced - Dead) 2011-05-11 - Not again placed on intent calendar [SB1666 Detail]
Download: Texas-2011-SB1666-Comm_Sub.html
By: Duncan | S.B. No. 1666 | |
(In the Senate - Filed March 11, 2011; March 23, 2011, read | ||
first time and referred to Committee on State Affairs; May 6, 2011, | ||
reported favorably by the following vote: Yeas 6, Nays 3; | ||
May 6, 2011, sent to printer.) |
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relating to the authority of the Teacher Retirement System of Texas | ||
to invest in hedge funds. | ||
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: | ||
SECTION 1. Subsection (b), Section 825.3012, Government | ||
Code, is amended to read as follows: | ||
(b) Notwithstanding any provision of Section 825.301, not | ||
more than 10 [ |
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portfolio of the retirement system may be invested in hedge funds. | ||
SECTION 2. This Act takes effect immediately if it receives | ||
a vote of two-thirds of all the members elected to each house, as | ||
provided by Section 39, Article III, Texas Constitution. If this | ||
Act does not receive the vote necessary for immediate effect, this | ||
Act takes effect September 1, 2011. | ||
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