Bill Text: TX SB81 | 2017-2018 | 85th Legislature | Enrolled

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Bill Title: Relating to the operations of the Cancer Prevention and Research Institute of Texas; authorizing a trust company to charge the institute an investment fee.

Sponsorship: Partisan Bill (Republican 3)

Status: (Passed) 2017-06-09 - Effective on 9/1/17 [SB81 Detail]

Download: Texas-2017-SB81-Enrolled.html

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S.B. No. 81

AN ACT
relating to the operations of the Cancer Prevention and Research
Institute of Texas; authorizing a trust company to charge the
institute an investment fee.
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS:
SECTION 1. Section 572.003(c), Government Code, is amended
to read as follows:
(c) The term means a member of:
(1) the Public Utility Commission of Texas;
(2) the Texas Commission on Environmental Quality;
(3) the Texas Alcoholic Beverage Commission;
(4) the [The] Finance Commission of Texas;
(5) the Texas Facilities Commission;
(6) the Texas Board of Criminal Justice;
(7) the board of trustees of the Employees Retirement
System of Texas;
(8) the Texas Transportation Commission;
(9) the Texas Department of Insurance;
(10) the Parks and Wildlife Commission;
(11) the Public Safety Commission;
(12) the Texas Ethics Commission;
(13) the State Securities Board;
(14) the Texas Water Development Board;
(15) the governing board of a public senior college or
university as defined by Section 61.003, Education Code, or of The
University of Texas Southwestern Medical Center, The University of
Texas Medical Branch at Galveston, The University of Texas Health
Science Center at Houston, The University of Texas Health Science
Center at San Antonio, The University of Texas M. D. Anderson Cancer
Center, The University of Texas Health Science Center at Tyler,
University of North Texas Health Science Center at Fort Worth,
Texas Tech University Health Sciences Center, Texas State Technical
College--Harlingen, Texas State Technical College--Marshall, Texas
State Technical College--Sweetwater, or Texas State Technical
College--Waco;
(16) the Texas Higher Education Coordinating Board;
(17) the Texas Workforce Commission;
(18) the board of trustees of the Teacher Retirement
System of Texas;
(19) the Credit Union Commission;
(20) the School Land Board;
(21) the board of the Texas Department of Housing and
Community Affairs;
(22) the Texas Racing Commission;
(23) the State Board of Dental Examiners;
(24) the Texas Medical Board;
(25) the Board of Pardons and Paroles;
(26) the Texas State Board of Pharmacy;
(27) the Department of Information Resources
governing board;
(28) the Motor Vehicle Board;
(29) the Texas Real Estate Commission;
(30) the board of directors of the State Bar of Texas;
(31) the Bond Review Board [bond review board];
(32) the Health and Human Services Commission;
(33) the Texas Funeral Service Commission;
(34) the board of directors of a river authority
created under the Texas Constitution or a statute of this state;
[or]
(35) the Texas Lottery Commission; or
(36) the Cancer Prevention and Research Institute of
Texas.
SECTION 2. Section 102.003, Health and Safety Code, is
amended to read as follows:
Sec. 102.003. SUNSET PROVISION. The Cancer Prevention and
Research Institute of Texas is subject to Chapter 325, Government
Code (Texas Sunset Act). Unless continued in existence as provided
by that chapter, the institute is abolished and this chapter
expires September 1, 2023 [2021].
SECTION 3. Section 102.107, Health and Safety Code, is
amended to read as follows:
Sec. 102.107. POWERS AND DUTIES. (a) The oversight
committee shall:
(1) hire a chief executive officer;
(2) annually set priorities as prescribed by the
legislature for each grant program that receives money under this
chapter; and
(3) consider the priorities set under Subdivision (2)
in awarding grants under this chapter.
(b) The oversight committee may conduct a closed meeting in
accordance with Subchapter E, Chapter 551, Government Code, to
discuss issues related to managing, acquiring, or selling
securities or other revenue-sharing obligations realized under the
standards established as required by Section 102.256.
SECTION 4. Section 102.203(e), Health and Safety Code, is
amended to read as follows:
(e) Not more than 10 percent of the money appropriated by
the legislature for grants in a state fiscal year [awarded under
this subchapter] may be used for cancer prevention and control
programs during that [any] year.
SECTION 5. Section 102.254, Health and Safety Code, is
amended to read as follows:
Sec. 102.254. PERIOD FOR AWARDS. The oversight committee
may not award money under Subchapter E [before January 1, 2008, or]
after August 31, 2022 [2020].
SECTION 6. Section 102.256, Health and Safety Code, is
amended by adding Subsections (c) and (d) to read as follows:
(c) The oversight committee may transfer its management and
disposition authority over the state's interest in securities,
equities, royalties, income, and other benefits realized as a
result of projects undertaken with money awarded under Subchapter E
to the Texas Treasury Safekeeping Trust Company. If the oversight
committee transfers management and disposition authority under
this subsection, the trust company has any power necessary to
accomplish the purposes of this section.
(d) In managing the assets described by Subsection (c)
through procedures and subject to restrictions that the Texas
Treasury Safekeeping Trust Company considers appropriate, the
trust company may acquire, exchange, sell, supervise, manage, or
retain any kind of investment that a prudent investor, exercising
reasonable care, skill, and caution, would acquire, exchange, sell,
or retain in light of the purposes, terms, distribution
requirements, and other circumstances then prevailing pertinent to
each investment, including the requirements prescribed by
Subsection (b) and the purposes described by Section 102.002. The
trust company may charge a fee to recover the reasonable and
necessary costs incurred in managing assets under this section.
SECTION 7. Section 102.101(f), Health and Safety Code, is
repealed.
SECTION 8. This Act takes effect September 1, 2017.
______________________________ ______________________________
President of the Senate Speaker of the House
I hereby certify that S.B. No. 81 passed the Senate on
April 19, 2017, by the following vote: Yeas 30, Nays 1; and that
the Senate concurred in House amendment on May 25, 2017, by the
following vote: Yeas 29, Nays 2.
______________________________
Secretary of the Senate
I hereby certify that S.B. No. 81 passed the House, with
amendment, on May 20, 2017, by the following vote: Yeas 117,
Nays 19, one present not voting.
______________________________
Chief Clerk of the House
Approved:
______________________________
Date
______________________________
Governor