SB 2329
AN ACT relating to investment of local governments' money in banks located
Senate Bill • Hinojosa, Juan "Chuy"
89th Regular Session
Jan 14, 2025 - Jun 2, 2025 • Session ended
Awaiting Committee Assignment
Bill filed, pending referral to Senate committee
Committee
Not yet assigned
Fiscal Note
Not available
What This Bill Does
relating to investment of local governments' money in banks located
Bill Text
relating to investment of local governments' money in banks located BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: SECTION 1. Section 2256.005, Government Code, is amended by adding Subsection (b-1) to read as follows: (b-1) The investment policies for a local government must require at least 35 percent of the local government's funds that the governing body of the local government determines are available for investment to be invested in an authorized investment described by Section 2256.009(a)(7) or (8) or 2256.010 in a bank located in this SECTION 2. This Act takes effect January 1, 2026.
Bill History
filed
Bill filed: AN ACT relating to investment of local governments' money in banks located
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