Art. 4413(34e). STATE TRUST FUNDS; PERIODIC REPORTING.
Sec. 1. DEFINITION. In this Act, "state trust fund" means the permanent school fund, the permanent university fund, the Teacher Retirement System of Texas trust fund, and those trust accounts administered by the Employees Retirement System of Texas.
Sec. 2. REPORTING DATES. The manager of each state trust fund shall submit to the governor, the lieutenant governor, the speaker of the house of representatives, and the executive director of the State Pension Review Board:
(1) not later than January 25 of each year, a report with the information required by Section 3 of this Act covering the last six months of the previous calendar year; and
(2) not later than June 25 of each year, a report with the information required by Section 3 of this Act covering the first six months of that calendar year.
Sec. 3. REPORT CONTENTS. The report shall include the following:
(1) the number of beneficiaries of the state trust fund;
(2) the name of any individual responsible for administering the state trust fund and the discretionary investment authority granted to these individuals;
(3) the investment objectives of the state trust fund;
(4) the current end-of-month market value of the state trust fund;
(5) the current book value of the state trust fund;
(6) the names and amounts of the 10 largest stock holdings of the state trust fund along with the investment performance of these stock holdings during the last 12-month period;
(7) the asset allocations of the state trust fund expressed in percentages of stocks, fixed income, real estate, cash, or other financial investments; and
(8) the names and amounts of all investments made by the state trust fund in economically targeted investments.
Sec. 4. ECONOMICALLY TARGETED INVESTMENT. In this Act, "economically targeted investment" means an investment in which at least 50 percent of the total investment is allocated to economic development within this state or investment in businesses or entities located within this state.
Sec. 5. EFFECT OF ACT. This Act shall not diminish, impair, contradict, or in any way affect the duties, powers, or authorities granted or imposed on a governing board of a state trust fund by the constitution or laws of this state.
Acts 1993, 73rd Leg., ch. 817, eff. Sept. 1, 1993.
Article: 4413(34e) 4413(37) NextLast modified: September 28, 2016