Bill > HB3495

This bill modifies Texas state law regarding how the comptroller can manage and invest certain marketable securities. Specifically, the bill allows the comptroller to hold marketable securities outside of the state treasury, which was previously not permitted. When the comptroller liquidates (sells) these securities, they can pay reasonable expenses related to holding and selling the securities from the sale proceeds, and must then deposit the net proceeds into the state treasury. The bill also makes a technical amendment to a government code section related to investment regulations, removing a specific reference to a previous authorization method for state fund investments. Additionally, the bill includes a provision that appropriates existing marketable securities in the general revenue fund to the comptroller for management outside the state treasury, in accordance with the new provisions. The bill is set to take effect on September 1, 2025, giving state agencies time to prepare for the new investment management approach.

Budget and Finance

https://capitol.texas.gov/BillLookup/History.aspx?LegSess=89R&Bill=HB3495