TITLE: Proposing a constitutional amendment to authorize the legislature to vest the power to invest and manage certain public funds in certain officers, boards, and entities.

SUMMARY: Proposing a constitutional amendment to authorize the legislature to vest the power to invest and manage certain public funds in certain officers, boards, and entities.

FULL TEXT:
86(R) HJR 143-Engrossed version-Bill Text By: Bonnen of Galveston H.J.R. No. 143 A JOINT RESOLUTION proposing a constitutional amendment to authorize the legislature to vest the power to invest and manage certain public funds in certain officers, boards, and entities. BE IT RESOLVED BY THE LEGISLATURE OF THE STATE OF TEXAS: SECTION 1. Article III, Texas Constitution, is amended by adding Section 63 to read as follows: Sec. 63. Notwithstanding any other provision in this constitution, the legislature by law may vest the power to invest and manage any public funds, including funds established by this constitution other than the fund established under Section 11, Article VII, of this constitution, in any public officer of this state, a board composed of public officers of this state, or an entity that is governed by appointees of public officers of this state. SECTION 2. This proposed constitutional amendment shall be submitted to the voters at an election to be held November 5, 2019. The ballot shall be printed to permit voting for or against the proposition: "The constitutional amendment to authorize the legislature to vest the power to invest and manage certain public funds in public officers, boards composed of public officers, or entities governed by appointees of public officers."