LEGISLATIVE BUDGET BOARD Austin, Texas FISCAL NOTE, 81ST LEGISLATIVE REGULAR SESSION April 27, 2009 TO: Honorable Burt R. Solomons, Chair, House Committee on State Affairs FROM: John S. O'Brien, Director, Legislative Budget Board IN RE:HB2670 by Thibaut (Relating to governmental liability for interest resulting from a claim for payment for goods or services.), As Introduced No significant fiscal implication to the State is anticipated. The bill would amend statute and make a governmental entity not liable for interest on a late payment if the governmental entity is involved in a bona fide dispute with a vendor, contractor, subcontractor, or supplier concerning the goods delivered or the service performed. The provisions of the bill could reduce spending by state and local governments for interest on overdue payments to vendors; however, the fiscal impact is not expected to be significant. Local Government Impact No significant fiscal implication to units of local government is anticipated. Source Agencies:304 Comptroller of Public Accounts LBB Staff: JOB, KJG, JM
LEGISLATIVE BUDGET BOARD
Austin, Texas
FISCAL NOTE, 81ST LEGISLATIVE REGULAR SESSION
April 27, 2009
TO: Honorable Burt R. Solomons, Chair, House Committee on State Affairs FROM: John S. O'Brien, Director, Legislative Budget Board IN RE:HB2670 by Thibaut (Relating to governmental liability for interest resulting from a claim for payment for goods or services.), As Introduced
TO: Honorable Burt R. Solomons, Chair, House Committee on State Affairs
FROM: John S. O'Brien, Director, Legislative Budget Board
IN RE: HB2670 by Thibaut (Relating to governmental liability for interest resulting from a claim for payment for goods or services.), As Introduced
Honorable Burt R. Solomons, Chair, House Committee on State Affairs
Honorable Burt R. Solomons, Chair, House Committee on State Affairs
John S. O'Brien, Director, Legislative Budget Board
John S. O'Brien, Director, Legislative Budget Board
HB2670 by Thibaut (Relating to governmental liability for interest resulting from a claim for payment for goods or services.), As Introduced
HB2670 by Thibaut (Relating to governmental liability for interest resulting from a claim for payment for goods or services.), As Introduced
No significant fiscal implication to the State is anticipated.
No significant fiscal implication to the State is anticipated.
The bill would amend statute and make a governmental entity not liable for interest on a late payment if the governmental entity is involved in a bona fide dispute with a vendor, contractor, subcontractor, or supplier concerning the goods delivered or the service performed. The provisions of the bill could reduce spending by state and local governments for interest on overdue payments to vendors; however, the fiscal impact is not expected to be significant.
Local Government Impact
No significant fiscal implication to units of local government is anticipated.
Source Agencies: 304 Comptroller of Public Accounts
304 Comptroller of Public Accounts
LBB Staff: JOB, KJG, JM
JOB, KJG, JM