Sec. 322.003.  QUORUM;  MEETINGS.  (a)  A majority of the members of the board from each house constitutes a quorum to transact business.  If a quorum is present, the board may act on any matter that is within its jurisdiction by a majority vote.
(b)  The board shall meet as often as necessary to perform its duties.  Meetings may be held at any time at the request of either of the joint chairs of the board or on written petition of a majority of the members of the board from each house.
(c)  The board shall meet in Austin, except that if a majority of the members of the board from each house agree, the board may meet in any location determined by the board.
(d)  As an exception to Chapter 551 and other law, if a meeting is located in Austin and the joint chairs of the board are physically present at the meeting, then any number of the other members of the board may attend the meeting by use of telephone conference call, video conference call, or other similar telecommunication device.  This subsection applies for purposes of constituting a quorum, for purposes of voting, and for any other purpose allowing a member of the board to otherwise fully participate in any meeting of the board.  This subsection applies without exception with regard to the subject of the meeting or topics considered by the members.
(e)  A meeting held by use of telephone conference call, video conference call, or other similar telecommunication device:
(1)  is subject to the notice requirements applicable to other meetings;
(2)  must specify in the notice of the meeting the location in Austin of the meeting at which the joint chairs will be physically present;
(3)  must be open to the public and shall be audible to the public at the location in Austin specified in the notice of the meeting as the location of the meeting at which the joint chairs will be physically present; and
(4)  must provide two-way audio communication between all members of the board attending the meeting during the entire meeting, and if the two-way audio communication link with any member attending the meeting is disrupted at any time, the meeting may not continue until the two-way audio communication link is reestablished.
(f)  The board shall hold a public hearing each state fiscal year to receive a report from the comptroller and receive invited testimony regarding the financial condition of this state.  The report from the comptroller shall include, to the extent practicable:
(1)  information on each revenue source included in determining the estimate of anticipated revenue for purposes of the most recent statement required by Section 49a, Article III, Texas Constitution, and the total net revenue actually collected from that source for the state fiscal year as of the end of the most recent state fiscal quarter;
(2)  a comparison for the period described by Subdivision (1) of the total net revenue collected from each revenue source required to be specified under that subdivision with the anticipated revenue from that source that was included for purposes of determining the estimate of anticipated revenue in the statement required by Section 49a, Article III, Texas Constitution;
(3)  information on state revenue sources resulting from a law taking effect after the comptroller submitted the most recent statement required by Section 49a, Article III, Texas Constitution, and the estimated total net revenue collected from that source for the state fiscal year as of the end of the most recent state fiscal quarter;
(4)  a summary of the indicators of state economic trends experienced since the most recent statement required by Section 49a, Article III, Texas Constitution; and
(5)  a summary of anticipated state economic trends and the anticipated effect of the trends on state revenue collections.
Acts 1985, 69th Leg., ch. 479, Sec. 1, eff. Sept. 1, 1985.  Amended by Acts 2003, 78th Leg., 3rd C.S., ch. 3, Sec. 4.01, 6.04, eff. Jan. 11, 2004.
Amended by: 
Acts 2005, 79th Leg., Ch. 741 (H.B. 2753), Sec. 3, eff. June 17, 2005.
Acts 2011, 82nd Leg., 1st C.S., Ch. 4 (S.B. 1), Sec. 34.01, eff. September 28, 2011.