LEGISLATIVE BUDGET BOARD Austin, Texas FISCAL NOTE, 82ND LEGISLATIVE REGULAR SESSION May 16, 2011 TO: Honorable Robert Duncan, Chair, Senate Committee on State Affairs FROM: John S O'Brien, Director, Legislative Budget Board IN RE:HB738 by Otto (Relating to the authority of the Teacher Retirement System of Texas to invest in hedge funds.), As Engrossed No fiscal implication to the State is anticipated. The bill would increase the allowable amount that the Teacher Retirement System can invest in hedge funds from 5 percent to 10 percent of the total investment portfolio. Local Government Impact No fiscal implication to units of local government is anticipated. Source Agencies:323 Teacher Retirement System LBB Staff: JOB, KJG, AG, JGM, JW
LEGISLATIVE BUDGET BOARD
Austin, Texas
FISCAL NOTE, 82ND LEGISLATIVE REGULAR SESSION
May 16, 2011
TO: Honorable Robert Duncan, Chair, Senate Committee on State Affairs FROM: John S O'Brien, Director, Legislative Budget Board IN RE:HB738 by Otto (Relating to the authority of the Teacher Retirement System of Texas to invest in hedge funds.), As Engrossed
TO: Honorable Robert Duncan, Chair, Senate Committee on State Affairs
FROM: John S O'Brien, Director, Legislative Budget Board
IN RE: HB738 by Otto (Relating to the authority of the Teacher Retirement System of Texas to invest in hedge funds.), 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
HB738 by Otto (Relating to the authority of the Teacher Retirement System of Texas to invest in hedge funds.), As Engrossed
HB738 by Otto (Relating to the authority of the Teacher Retirement System of Texas to invest in hedge funds.), As Engrossed
No fiscal implication to the State is anticipated.
No fiscal implication to the State is anticipated.
The bill would increase the allowable amount that the Teacher Retirement System can invest in hedge funds from 5 percent to 10 percent of the total investment portfolio.
Local Government Impact
No fiscal implication to units of local government is anticipated.
Source Agencies: 323 Teacher Retirement System
323 Teacher Retirement System
LBB Staff: JOB, KJG, AG, JGM, JW
JOB, KJG, AG, JGM, JW