HBA-DMD, NLM H.B. 2219 76(R)    BILL ANALYSIS


Office of House Bill AnalysisH.B. 2219
By: Hilbert
County Affairs
10/19/1999
Enrolled


BACKGROUND AND PURPOSE 

Prior to the 76th Legislature, rural volunteer fire prevention district
officers and employees were required to participate in investment training.
These employees operated under limited budgets which were used only to meet
ongoing expenses. H.B. 2219 provides that Section 2256.008 (Investment
Training; Local Governments), Government Code, does not apply to an officer
or employee of a district created under Chapters 775 (Emergency Services
Districts) and 794 (Rural Fire Prevention Districts),  Health and Safety
Code. Additionally, this bill authorizes emergency services districts and
rural fire prevention districts to invest funds only in certain authorized
investments, unless their treasurer, chief financial officer, and
investment officer attend and successfully complete certain training
requirements. 

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 Subchapter C, Chapter 775, Health and Safety Code, by
adding Section 775.041, as follows: 

Sec. 775.041.  EXEMPTION FROM INVESTMENT TRAINING.  Provides that Section
2256.008 (Investment Training; Local Governments), Government Code, does
not apply to an officer or employee of an emergency services district
created under this chapter (Emergency Services Districts). 

(b) Authorizes an emergency services district to invest funds only in the
authorized investments set forth under Sections 2256.009 (Authorized
Investments: Obligations of, or Guaranteed by Governmental Entities),
2256.010 (Authorized Investments: Certificates of Deposit and Share
Certificates), and 2256.016 (Authorized Investments: Investment Pools),
Government Code, unless the treasurer, chief financial officer and the
investment officer of the emergency services district attend and
successfully complete the training requirements under Section 2256.008. 

SECTION 2.  Amends Subchapter C, Chapter 794, Health and Safety Code, by
adding Section 794.038, as follows: 

Sec. 794.038.  EXEMPTION FROM INVESTMENT TRAINING.  Provides that Section
2256.008, Government Code, does not apply to an officer or employee of a
rural fire prevention district created under this chapter (Fire Prevention
Districts). 

(b) Authorizes a fire prevention district to invest funds only in the
authorized investments set forth under Sections 2256.009, 2256.010, and
2256.016, Government Code, unless the treasurer, chief financial officer
and the investment officer of the fire prevention district attend and
successfully complete the training requirements under Section 2256.008. 

SECTION 3.  Emergency clause.
  Effective date: upon passage.