LEGISLATIVE BUDGET BOARD Austin, Texas FISCAL NOTE, 81ST LEGISLATIVE REGULAR SESSION May 20, 2009 TO: Honorable Robert Duncan, Chair, Senate Committee on State Affairs 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 Engrossed No significant fiscal implication to the State is anticipated. The bill would clarify that the Teacher Retirement System (TRS) may not employ outside legal counsel, including legal counsel in the areas of ethics and fiduciary responsibilities, except as provided by Section 402.0212 of the Government Code, regardless of the source of funds used. Additionally, if the Office of the Attorney General (OAG) denies approval of a TRS contract for legal services under Section 402.0212 of the Government Code, the OAG shall assist TRS in selecting alternative outside legal counsel under that section. 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, KJG, JRO, JGM, JW
LEGISLATIVE BUDGET BOARD
Austin, Texas
FISCAL NOTE, 81ST LEGISLATIVE REGULAR SESSION
May 20, 2009
TO: Honorable Robert Duncan, Chair, Senate Committee on State Affairs 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 Engrossed
TO: Honorable Robert Duncan, Chair, Senate Committee on State Affairs
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 Engrossed
Honorable Robert Duncan, Chair, Senate Committee on State Affairs
Honorable Robert Duncan, Chair, Senate Committee on State Affairs
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 Engrossed
HB1259 by Kolkhorst (Relating to hiring outside legal counsel to provide legal services to the Teacher Retirement System of Texas.), As Engrossed
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 (TRS) may not employ outside legal counsel, including legal counsel in the areas of ethics and fiduciary responsibilities, except as provided by Section 402.0212 of the Government Code, regardless of the source of funds used. Additionally, if the Office of the Attorney General (OAG) denies approval of a TRS contract for legal services under Section 402.0212 of the Government Code, the OAG shall assist TRS in selecting alternative outside legal counsel under that section. The bill would take effect September 1, 2009.
The bill would clarify that the Teacher Retirement System (TRS) may not employ outside legal counsel, including legal counsel in the areas of ethics and fiduciary responsibilities, except as provided by Section 402.0212 of the Government Code, regardless of the source of funds used.
Additionally, if the Office of the Attorney General (OAG) denies approval of a TRS contract for legal services under Section 402.0212 of the Government Code, the OAG shall assist TRS in selecting alternative outside legal counsel under that section.
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, KJG, JRO, JGM, JW
JOB, KJG, JRO, JGM, JW