LEGISLATIVE BUDGET BOARD Austin, Texas FISCAL NOTE, 81ST LEGISLATIVE REGULAR SESSION April 27, 2009 TO: Honorable Steve Ogden, Chair, Senate Committee on Finance FROM: John S. O'Brien, Director, Legislative Budget Board IN RE:SB2350 by Ogden (Relating to the payment of cy pres funds in an action by the attorney general.), As Introduced No significant fiscal implication to the State is anticipated. This bill would amend the Civil Practice and Remedies Code and create the cy pres account as a dedicated account in General Revenue Fund. The Office of the Attorney General (OAG) would retain cy pres funds awarded by the courts and deposit those funds into the newly created account and would distribute those funds to nonprofit, charitable, or educational entities for programs that provide assistance to consumers. It is assumed that all revenue generated as a result of the provisions of the bill would be distributed by the OAG to eligible entities. The OAG has indicated that any additional costs associated with implementation of the bill could be absorbed within existing resources. Local Government Impact No fiscal implication to units of local government is anticipated. Source Agencies:212 Office of Court Administration, Texas Judicial Council, 302 Office of the Attorney General, 304 Comptroller of Public Accounts LBB Staff: JOB, MN, MS, JM
LEGISLATIVE BUDGET BOARD
Austin, Texas
FISCAL NOTE, 81ST LEGISLATIVE REGULAR SESSION
April 27, 2009
TO: Honorable Steve Ogden, Chair, Senate Committee on Finance FROM: John S. O'Brien, Director, Legislative Budget Board IN RE:SB2350 by Ogden (Relating to the payment of cy pres funds in an action by the attorney general.), As Introduced
TO: Honorable Steve Ogden, Chair, Senate Committee on Finance
FROM: John S. O'Brien, Director, Legislative Budget Board
IN RE: SB2350 by Ogden (Relating to the payment of cy pres funds in an action by the attorney general.), As Introduced
Honorable Steve Ogden, Chair, Senate Committee on Finance
Honorable Steve Ogden, Chair, Senate Committee on Finance
John S. O'Brien, Director, Legislative Budget Board
John S. O'Brien, Director, Legislative Budget Board
SB2350 by Ogden (Relating to the payment of cy pres funds in an action by the attorney general.), As Introduced
SB2350 by Ogden (Relating to the payment of cy pres funds in an action by the attorney general.), As Introduced
No significant fiscal implication to the State is anticipated.
No significant fiscal implication to the State is anticipated.
This bill would amend the Civil Practice and Remedies Code and create the cy pres account as a dedicated account in General Revenue Fund. The Office of the Attorney General (OAG) would retain cy pres funds awarded by the courts and deposit those funds into the newly created account and would distribute those funds to nonprofit, charitable, or educational entities for programs that provide assistance to consumers. It is assumed that all revenue generated as a result of the provisions of the bill would be distributed by the OAG to eligible entities. The OAG has indicated that any additional costs associated with implementation of the bill could be absorbed within existing resources.
Local Government Impact
No fiscal implication to units of local government is anticipated.
Source Agencies: 212 Office of Court Administration, Texas Judicial Council, 302 Office of the Attorney General, 304 Comptroller of Public Accounts
212 Office of Court Administration, Texas Judicial Council, 302 Office of the Attorney General, 304 Comptroller of Public Accounts
LBB Staff: JOB, MN, MS, JM
JOB, MN, MS, JM