HBA-SEB H.B. 1722 76(R)    BILL ANALYSIS


Office of House Bill AnalysisH.B. 1722
By: Counts
Pensions and Investments
3/19/1999
Introduced



BACKGROUND AND PURPOSE 

Currently, money in the veterans' land fund (fund) may be placed in a
variety of investments such as commercial paper or direct security
repurchase agreements.  H.B. 1722 includes revenue bonds issued under the
Veterans' Financial Assistance Program as an investment option for money in
the fund. 
    
RULEMAKING AUTHORITY

It is the opinion of the Office of House Bill Analysis that this bill does
not expressly delegate any additional rulemaking authority to a state
officer, department, agency, or institution. 

SECTION BY SECTION ANALYSIS

SECTION 1.  Amends Section 161.173(a), Natural Resources Code, to authorize
the investment of money from the veterans' land fund in revenue bonds
issued under Chapter 164 (Veterans' Financial Assistance Program) if the
money is not immediately committed to paying the principal of and interest
on general obligation bonds, the purchase of land, or the payment of
expenses as provided by this chapter (Veterans Land Board). 

SECTION 2.Emergency clause.
  Effective date: upon passage.