85R10446 MK-D     By: Stephenson H.B. No. 2648       A BILL TO BE ENTITLED   AN ACT   relating to including the obligations of Federal Home Loan Banks as   authorized investments for a governmental entity.          BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS:          SECTION 1.  Section 2256.009(a), Government Code, is amended   to read as follows:          (a)  Except as provided by Subsection (b), the following are   authorized investments under this subchapter:                (1)  obligations, including letters of credit, of the   United States or its agencies and instrumentalities, including the   Federal Home Loan Banks;                (2)  direct obligations of this state or its agencies   and instrumentalities;                (3)  collateralized mortgage obligations directly   issued by a federal agency or instrumentality of the United States,   the underlying security for which is guaranteed by an agency or   instrumentality of the United States;                (4)  other obligations, the principal and interest of   which are unconditionally guaranteed or insured by, or backed by   the full faith and credit of, this state or the United States or   their respective agencies and instrumentalities, including   obligations that are fully guaranteed or insured by the Federal   Deposit Insurance Corporation or by the explicit full faith and   credit of the United States;                (5)  obligations of states, agencies, counties,   cities, and other political subdivisions of any state rated as to   investment quality by a nationally recognized investment rating   firm not less than A or its equivalent; and                (6)  bonds issued, assumed, or guaranteed by the State   of Israel.          SECTION 2.  This Act takes effect September 1, 2017.