Summary of 1999 Legislative Session

This past legislative session, the Legislature enacted several measures affecting the state's asset and financial management. Some of these measures were the direct result of recommendations of the Texas Performance Review. For example, the Legislature enacted bills that will improve how the state's manages not only its vehicle fleets, but also its software licenses. New legislation also provides continued support for activity-based costing.

The Legislature also granted the Comptroller permission to contract with private fund managers to manage certain state funds, such as those stemming from the tobacco settlement. The Legislature also passed a joint resolution to amend the Texas Constitution that would substantially change the investment rules and practices of the Permanent University Fund. That resolution will be the subject of a public vote in November of 1999.