Sec. 404.0241. INVESTMENT OF CERTAIN ECONOMIC STABILIZATION FUND BALANCES. (a) The comptroller shall invest a percentage of the economic stabilization fund balance in a state fiscal biennium that exceeds the amount of the sufficient balance of the fund adopted under Section 316.092 for that biennium in accordance with the investment standard described by Section 404.024(j). The comptroller's investment of that percentage of the excess balance is not subject to any other limitation or other requirement provided by Section 404.024.
(b) The comptroller shall adjust the investment portfolio of economic stabilization fund money periodically to ensure that the balance of the fund is sufficient to meet the cash flow requirements of the fund.
(c) The comptroller shall include the fair market value of the investment portfolio of the economic stabilization fund in calculating the amount in the fund for purposes of Section 49-g(g), Article III, Texas Constitution, and Section 316.093 of this code.
(d) This section expires on the date Section 316.092 expires.
Added by Acts 2015, 84th Leg., R.S., Ch. 93 (H.B. 903), Sec. 1, eff. May 23, 2015.
Section: Previous 404.021 404.0211 404.0212 404.022 404.0221 404.023 404.024 404.0241 404.0245 404.026 404.027 404.028 404.031 404.032 404.033 NextLast modified: September 28, 2016