HB3900 - Relating to consideration of whether banks, credit unions, and investment pools are located in this state in investment policies adopted by local governments.

  89R27602 SCL-F     By: Guillen, Curry, Troxclair H.B. No. 3900     Substitute the following for H.B. No. 3900:     By:  Lambert C.S.H.B. No. 3900       A BILL TO BE ENTITLED   AN ACT   relating to consideration of whether banks, credit unions, and   investment pools are located in this state in investment policies   adopted by local governments.          BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS:          SECTION 1.  Section 2256.005, Government Code, is amended by   adding Subsection (c-1) to read as follows:           (c-1)     The investment policies for a local government may   allow a local government to use in the local government's   evaluation criteria a consideration of whether an authorized   investment described by this subchapter is in a bank, credit union,   or investment pool with a physical location and staff located in   this state.          SECTION 2.  This Act takes effect immediately if it receives   a vote of two-thirds of all the members elected to each house, as   provided by Section 39, Article III, Texas Constitution.  If this   Act does not receive the vote necessary for immediate effect, this   Act takes effect September 1, 2025.