Relating to the composition of the board of directors of the Texas Permanent School Fund Corporation.

SB 1903 changes the composition of the Texas Permanent School Fund Corporation's board from nine to eleven members. It adds four new positions: two appointed by the governor (with Senate confirmation) and requiring investment expertise, one appointed by the lieutenant governor (with Senate confirmation) with investment expertise, and one appointed by the speaker of the House (with Senate confirmation) with investment expertise. The bill specifies that these new members serve staggered six-year terms, with terms expiring on January 1 of odd-numbered years. This bill directly affects the governance structure of the Texas Permanent School Fund, which manages assets supporting public education.