The investment and management of certain funds by the comptroller; making an appropriation

Texas House Bill 3495, introduced in 2025, allows the state comptroller to manage and sell certain marketable securities outside the state treasury. After selling these securities, the comptroller can deduct necessary expenses and must deposit the remaining funds into the state treasury. The bill also exempts specific state investments from the Public Funds Investment Act, simplifying investment processes for state retirement funds and institutional endowments.

Supporters argue that HB 3495 enhances the comptroller's flexibility in managing state assets, potentially leading to better investment returns and more efficient fund management. By allowing the comptroller to handle securities outside the state treasury and streamlining investment regulations, the bill is seen as a step toward modernizing the state's financial operations.

Critics express concerns that granting the comptroller authority to manage and sell securities outside the state treasury could reduce transparency and oversight. They worry that this change might lead to mismanagement or misuse of state funds, as it moves certain financial activities away from established checks and balances within the treasury system.