LEGISLATIVE BUDGET BOARD Austin, Texas FISCAL NOTE, 82ND LEGISLATIVE REGULAR SESSION Revision 1 April 11, 2011 TO: Honorable Vicki Truitt, Chair, House Committee on Pensions, Investments & Financial Services FROM: John S O'Brien, Director, Legislative Budget Board IN RE:HB1677 by Rodriguez, Eddie (Relating to the administration and funding of retirement systems for firefighters in certain municipalities.), As Introduced No fiscal implication to the State is anticipated. The bill would amend the Vernons Texas Civil Statutes to increase the funding of the retirement system for firefighters in the City of Austin. Every year through 2012, the City of Austin would be required to contribute an increasingly greater percent of compensation of all members into the firefighters relief and retirement fund. Every year through 2016, an individual firefighter in the City of Austin would be required to contribute an increasingly greater percent of compensation into the firefighters relief and retirement fund. Local Government Impact The City of Austin reported there would not be a significant fiscal impact to implement the provisions of the bill. Source Agencies: LBB Staff: JOB, AG, TP
LEGISLATIVE BUDGET BOARD
Austin, Texas
FISCAL NOTE, 82ND LEGISLATIVE REGULAR SESSION
Revision 1
April 11, 2011
Revision 1
Revision 1
TO: Honorable Vicki Truitt, Chair, House Committee on Pensions, Investments & Financial Services FROM: John S O'Brien, Director, Legislative Budget Board IN RE:HB1677 by Rodriguez, Eddie (Relating to the administration and funding of retirement systems for firefighters in certain municipalities.), 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: HB1677 by Rodriguez, Eddie (Relating to the administration and funding of retirement systems for firefighters in certain municipalities.), 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
HB1677 by Rodriguez, Eddie (Relating to the administration and funding of retirement systems for firefighters in certain municipalities.), As Introduced
HB1677 by Rodriguez, Eddie (Relating to the administration and funding of retirement systems for firefighters in certain municipalities.), As Introduced
No fiscal implication to the State is anticipated.
No fiscal implication to the State is anticipated.
The bill would amend the Vernons Texas Civil Statutes to increase the funding of the retirement system for firefighters in the City of Austin. Every year through 2012, the City of Austin would be required to contribute an increasingly greater percent of compensation of all members into the firefighters relief and retirement fund. Every year through 2016, an individual firefighter in the City of Austin would be required to contribute an increasingly greater percent of compensation into the firefighters relief and retirement fund.
The bill would amend the Vernons Texas Civil Statutes to increase the funding of the retirement system for firefighters in the City of Austin. Every year through 2012, the City of Austin would be required to contribute an increasingly greater percent of compensation of all members into the firefighters relief and retirement fund.
Every year through 2016, an individual firefighter in the City of Austin would be required to contribute an increasingly greater percent of compensation into the firefighters relief and retirement fund.
Local Government Impact
The City of Austin reported there would not be a significant fiscal impact to implement the provisions of the bill.
Source Agencies:
LBB Staff: JOB, AG, TP
JOB, AG, TP