House Bill No. 3495 proposes amendments to the Government Code regarding the investment and management of certain funds by the comptroller. A new section, 404.0945, is added, allowing the comptroller to hold marketable securities outside the state treasury. This section also stipulates that after liquidating such securities, the comptroller may 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 held in the general revenue fund of the state treasury to the comptroller, enabling their management outside the treasury in accordance with the newly established Section 404.0945. The act is set to take effect on September 1, 2025.

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