{"data":{"id":"us-tx/tex.-government-code-322.014","jurisdiction":"us-tx","citation":"Tex. Government Code § 322.014","heading":"REPORT ON MAJOR INVESTMENT FUNDS.","body":"(a) In this section, \"state investment fund\" means any investment fund administered by or under a contract with any state governmental entity, including a fund:\n(1) established by statute or by the Texas Constitution; or\n(2) administered by or under a contract with:\n(A) a public retirement system as defined by Section 802.001 that provides service retirement, disability retirement, or death benefits for officers or employees of the state;\n(B) an institution of higher education as defined by Section 61.003, Education Code; or\n(C) any other entity that is part of state government.\n(b) The board shall evaluate and publish an annual report on the risk-adjusted performance of each state investment fund that in the opinion of the board contains a relatively large amount of assets belonging to or administered by the state. The board in its report shall:\n(1) compare the risk-adjusted performance of the funds; and\n(2) examine the risk-adjusted performance, within and among the funds, of similar asset classes and comparable portfolios within asset classes.\n(c) Each state governmental entity that administers a state investment fund and each person that administers a state investment fund under contract shall provide the board with the information the board requests regarding the performance of the fund.\n(d) The board shall publish the annual report in a format and using terminology that a person without technical investment expertise can understand.\nAdded by Acts 2001, 77th Leg., ch. 1410, Sec. 1, eff. June 16, 2001.","path":["GOVERNMENT CODE","TITLE 3. LEGISLATIVE BRANCH","SUBTITLE C. LEGISLATIVE AGENCIES AND OVERSIGHT COMMITTEES","CHAPTER 322. LEGISLATIVE BUDGET BOARD"],"source_url":"https://statutes.capitol.texas.gov/Docs/GV/htm/GV.322.htm#322.014","current_through":"89th 2nd Called Legislative Session, 2025","vintage":"","retrieved_at":"2026-08-27T01:47:16Z","sha256":"413b20c19fe0ab36541c66a7372c778c278a6c88b54a8d25d5b05ebab07f41a1","source_id":"us-tx","stale":false,"prev":"us-tx/tex.-government-code-322.013","next":"us-tx/tex.-government-code-322.015"},"notice":"GroundRules: Original legal text. Not legal advice."}