House Bill No. 3495 proposes amendments to the Government Code regarding the investment and management of certain funds by the comptroller. It introduces a new section, 404.0945, which allows the comptroller to hold marketable securities outside the state treasury. Upon liquidating these securities, the comptroller is authorized to cover reasonable expenses from the sale proceeds and must deposit the net proceeds into the state treasury as per existing regulations. Additionally, the bill modifies Section 2256.004(a) to clarify that the subchapter does not apply to state funds invested by the comptroller, removing previous language that referenced specific authorization.

Furthermore, the bill appropriates marketable securities currently held in the general revenue fund of the state treasury to the comptroller, enabling their management outside the treasury in accordance with the newly added section. This change is set to take effect on September 1, 2025. Overall, the bill aims to enhance the flexibility and efficiency of the comptroller's investment strategies while ensuring proper oversight and adherence to existing financial regulations.

Statutes affected:
Introduced: Government Code 2256.004 (Government Code 2256)