Relating to certain advisory entities and work groups under the jurisdiction of the comptroller of public accounts or on which the comptroller's office is represented and to the repeal or redesignation of certain of those entities.

Contracts

• JETI Agreements: Future agreements under the Jobs, Energy, Technology, and Innovation (JETI) Act must exclude references to the "Oversight Committee." Existing contracts do not require immediate amendment, but the committee ceases to exist on the effective date.
• Board Service Agreements: Engagement letters for executives serving on the Comptroller’s Investment Advisory Board must explicitly state that service is "at the will of the comptroller" and is non-compensable (expenses only).

Hiring/Training

• Board Member Training: Any company executive appointed to the Investment Advisory Board must complete a mandatory training program regarding the Texas Treasury Safekeeping Trust Company’s assets and applicable open government laws *before* voting or deliberating.
• Conflict Checks: Firms with staff on the Investment Advisory Board must verify that the appointee does not own >10% of, or derive >5% of gross income from, any business entity receiving funds from the Trust Company.

Reporting & Record-Keeping

• JETI Reporting: Update compliance calendars and distribution lists. Stop submitting copies of applications, notices, and audit reports to the "Oversight Committee." These filings now go only to the Governor, Comptroller, Lt. Governor, and Speaker.
• Tobacco Settlement: Healthcare entities lobbying for Tobacco Settlement funds must direct input on "distribution amounts" specifically to the reconstituted Advisory Committee.

Fees & Costs

• No New Fees: The bill does not impose new regulatory fees.
• Liability Reduction: The law statutorily defines Investment Advisory Board members as non-fiduciaries, reducing personal liability exposure for professionals serving in these roles.