I just got word from Rep. Wayne Smiths office that HB 870 has been filed. This bill will, if enacted, reduce the continuing education credit requirement for designated investment officers in all government entities subject to the Public Funds Investment Act (PFIA) from 10 hours to only 5 hours. 

David Webb with George K. Baum & Company shared the following:

The practical impact of this bill will be to reduce out of office time for many local government employees from 2 days to 1 day every other year. While that may not sound like a significant benefit, I strongly believe that many investment officers out there in schools, counties, cities and appraisal district offices will be pleased with the opportunity to get back to the workload back home, which just piles up while they are in training. 

 And this bill requires no financial commitment or funding from the legislature!
 
 I am excited that George K. Baum and Company can play a small role in initiating this legislation. I am cautiously optimistic that it will pass with little fanfare. And I am hopeful that many investment officers will appreciate Rep. Wayne Smith and his staff for agreeing to file this bill. Wayne is a veteran legislator who is well respected and highly regarded in the House, and I think that lends great credibility to the bill.
 
Feel free to contact me if you you have any questions.
 
Regards,
 
David Webb, First Vice President 
George K Baum & Company
8115 Preston Road, Suite 650 / Dallas, Texas 75225
Office (214) 365-8209 / Mobile (832) 347-0734
Facsimile (303) 391-5569 / www.gkbaum.com/Texas