LEGISLATIVE BUDGET BOARD Austin, Texas FISCAL NOTE, 81ST LEGISLATIVE REGULAR SESSION March 31, 2009 TO: Honorable Vicki Truitt, Chair, House Committee on Pensions, Investments & Financial Services FROM: John S. O'Brien, Director, Legislative Budget Board IN RE:HB1259 by Kolkhorst (Relating to hiring outside legal counsel to provide legal services to the Teacher Retirement System of Texas.), As Introduced No significant fiscal implication to the State is anticipated. The bill would clarify that the Teacher Retirement System of Texas must obtain approval from the Office of the Attorney General in accordance with Section 402.0212, Government Code, regardless of the source of funds used, including legal counsel in the areas of ethics and fiduciary responsibilities. The bill would take effect September 1, 2009. Local Government Impact No fiscal implication to units of local government is anticipated. Source Agencies:302 Office of the Attorney General, 323 Teacher Retirement System LBB Staff: JOB, JRO, JGM, JW
LEGISLATIVE BUDGET BOARD
Austin, Texas
FISCAL NOTE, 81ST LEGISLATIVE REGULAR SESSION
March 31, 2009
TO: Honorable Vicki Truitt, Chair, House Committee on Pensions, Investments & Financial Services FROM: John S. O'Brien, Director, Legislative Budget Board IN RE:HB1259 by Kolkhorst (Relating to hiring outside legal counsel to provide legal services to the Teacher Retirement System of Texas.), As Introduced
TO: Honorable Vicki Truitt, Chair, House Committee on Pensions, Investments & Financial Services
FROM: John S. O'Brien, Director, Legislative Budget Board
IN RE: HB1259 by Kolkhorst (Relating to hiring outside legal counsel to provide legal services to the Teacher Retirement System of Texas.), As Introduced
Honorable Vicki Truitt, Chair, House Committee on Pensions, Investments & Financial Services
Honorable Vicki Truitt, Chair, House Committee on Pensions, Investments & Financial Services
John S. O'Brien, Director, Legislative Budget Board
John S. O'Brien, Director, Legislative Budget Board
HB1259 by Kolkhorst (Relating to hiring outside legal counsel to provide legal services to the Teacher Retirement System of Texas.), As Introduced
HB1259 by Kolkhorst (Relating to hiring outside legal counsel to provide legal services to the Teacher Retirement System of Texas.), As Introduced
No significant fiscal implication to the State is anticipated.
No significant fiscal implication to the State is anticipated.
The bill would clarify that the Teacher Retirement System of Texas must obtain approval from the Office of the Attorney General in accordance with Section 402.0212, Government Code, regardless of the source of funds used, including legal counsel in the areas of ethics and fiduciary responsibilities. The bill would take effect September 1, 2009.
The bill would clarify that the Teacher Retirement System of Texas must obtain approval from the Office of the Attorney General in accordance with Section 402.0212, Government Code, regardless of the source of funds used, including legal counsel in the areas of ethics and fiduciary responsibilities. The bill would take effect September 1, 2009.
Local Government Impact
No fiscal implication to units of local government is anticipated.
Source Agencies: 302 Office of the Attorney General, 323 Teacher Retirement System
302 Office of the Attorney General, 323 Teacher Retirement System
LBB Staff: JOB, JRO, JGM, JW
JOB, JRO, JGM, JW