LEGISLATIVE BUDGET BOARD Austin, Texas FISCAL NOTE, 82ND LEGISLATIVE REGULAR SESSION April 20, 2011 TO: Honorable Florence Shapiro, Chair, Senate Committee on Education FROM: John S O'Brien, Director, Legislative Budget Board IN RE:SB1543 by Wentworth (relating to the authority of an independent school district to invest in corporate bonds.), Committee Report 1st House, Substituted No fiscal implication to the State is anticipated. Local Government Impact The bill would authorize school districts meeting the definition of issuer under Section 1371.001, Government Code, to invest in corporate bonds subject to certain limitations. At present, Section 1371.001, Government Code defines issuer to include independent school districts that have 50,000 or more students in average daily attendance. According to the Texas Education Agency there are currently 14 school districts that have 50,000 or more students in average daily attendance. Fiscal implications for affected school districts would vary depending upon local investment decisions. Source Agencies:701 Central Education Agency LBB Staff: JOB, LXH, JSp
LEGISLATIVE BUDGET BOARD
Austin, Texas
FISCAL NOTE, 82ND LEGISLATIVE REGULAR SESSION
April 20, 2011
TO: Honorable Florence Shapiro, Chair, Senate Committee on Education FROM: John S O'Brien, Director, Legislative Budget Board IN RE:SB1543 by Wentworth (relating to the authority of an independent school district to invest in corporate bonds.), Committee Report 1st House, Substituted
TO: Honorable Florence Shapiro, Chair, Senate Committee on Education
FROM: John S O'Brien, Director, Legislative Budget Board
IN RE: SB1543 by Wentworth (relating to the authority of an independent school district to invest in corporate bonds.), Committee Report 1st House, Substituted
Honorable Florence Shapiro, Chair, Senate Committee on Education
Honorable Florence Shapiro, Chair, Senate Committee on Education
John S O'Brien, Director, Legislative Budget Board
John S O'Brien, Director, Legislative Budget Board
SB1543 by Wentworth (relating to the authority of an independent school district to invest in corporate bonds.), Committee Report 1st House, Substituted
SB1543 by Wentworth (relating to the authority of an independent school district to invest in corporate bonds.), Committee Report 1st House, Substituted
No fiscal implication to the State is anticipated.
No fiscal implication to the State is anticipated.
Local Government Impact
The bill would authorize school districts meeting the definition of issuer under Section 1371.001, Government Code, to invest in corporate bonds subject to certain limitations. At present, Section 1371.001, Government Code defines issuer to include independent school districts that have 50,000 or more students in average daily attendance. According to the Texas Education Agency there are currently 14 school districts that have 50,000 or more students in average daily attendance. Fiscal implications for affected school districts would vary depending upon local investment decisions.
Source Agencies: 701 Central Education Agency
701 Central Education Agency
LBB Staff: JOB, LXH, JSp
JOB, LXH, JSp