LEGISLATIVE BUDGET BOARD Austin, Texas FISCAL NOTE, 81ST LEGISLATIVE REGULAR SESSION April 7, 2009 TO: Honorable Vicki Truitt, Chair, House Committee on Pensions, Investments & Financial Services FROM: John S. O'Brien, Director, Legislative Budget Board IN RE:HB3878 by Gallego (Relating to annual reporting of women and minority participation in the management and investment of the assets of a state investment fund.), As Introduced No significant fiscal implication to the State is anticipated. The bill would require the Legislative Budget Board to include in the Annual Report on Major State Investment Funds detailed information regarding minority-owned and women-owned businesses, as defined by the bill. To the extent that this information is available from the funds included in the report, no significant fiscal implication to the state is expected. There could be a cost associated with this bill if a reporting agency or institution of higher education does not track or have this information available. The bill would take effect immediately if it receives two-thirds vote in each house. Otherwise, it would take effect September 1, 2009. Local Government Impact No fiscal implication to units of local government is anticipated. Source Agencies: LBB Staff: JOB, JRO, SD, MN
LEGISLATIVE BUDGET BOARD
Austin, Texas
FISCAL NOTE, 81ST LEGISLATIVE REGULAR SESSION
April 7, 2009
TO: Honorable Vicki Truitt, Chair, House Committee on Pensions, Investments & Financial Services FROM: John S. O'Brien, Director, Legislative Budget Board IN RE:HB3878 by Gallego (Relating to annual reporting of women and minority participation in the management and investment of the assets of a state investment fund.), 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: HB3878 by Gallego (Relating to annual reporting of women and minority participation in the management and investment of the assets of a state investment fund.), 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
HB3878 by Gallego (Relating to annual reporting of women and minority participation in the management and investment of the assets of a state investment fund.), As Introduced
HB3878 by Gallego (Relating to annual reporting of women and minority participation in the management and investment of the assets of a state investment fund.), As Introduced
No significant fiscal implication to the State is anticipated.
No significant fiscal implication to the State is anticipated.
The bill would require the Legislative Budget Board to include in the Annual Report on Major State Investment Funds detailed information regarding minority-owned and women-owned businesses, as defined by the bill. To the extent that this information is available from the funds included in the report, no significant fiscal implication to the state is expected. There could be a cost associated with this bill if a reporting agency or institution of higher education does not track or have this information available. The bill would take effect immediately if it receives two-thirds vote in each house. Otherwise, it would take effect September 1, 2009.
The bill would require the Legislative Budget Board to include in the Annual Report on Major State Investment Funds detailed information regarding minority-owned and women-owned businesses, as defined by the bill.
To the extent that this information is available from the funds included in the report, no significant fiscal implication to the state is expected. There could be a cost associated with this bill if a reporting agency or institution of higher education does not track or have this information available.
The bill would take effect immediately if it receives two-thirds vote in each house. Otherwise, it would take effect September 1, 2009.
Local Government Impact
No fiscal implication to units of local government is anticipated.
Source Agencies:
LBB Staff: JOB, JRO, SD, MN
JOB, JRO, SD, MN