LEGISLATIVE BUDGET BOARD Austin, Texas FISCAL NOTE, 83RD LEGISLATIVE REGULAR SESSION April 1, 2013 TO: Honorable Kel Seliger, Chair, Senate Committee on Higher Education FROM: Ursula Parks, Director, Legislative Budget Board IN RE:SB1019 by Estes (Relating to the investment of funds by the governing boards of certain institutions of higher education.), As Introduced No fiscal implication to the State is anticipated. Under provisions of the bill, if a governing board does not have under its control at least $25 million in book value of endowment funds, the governing board may contract to pool its funds described in this section with another institution that meets the $25 million in book value of endowment funds threshold established under Subsection (c), and have its funds invested by that governing board under prudent person standards. Based on response from institutions of higher education, the bill would not have a fiscal impact. Local Government Impact No fiscal implication to units of local government is anticipated. Source Agencies:710 Texas A&M University System Administrative and General Offices, 720 The University of Texas System Administration, 758 Texas State University System, 768 Texas Tech University System Administration, 769 University of North Texas System Administration, 781 Higher Education Coordinating Board, 783 University of Houston System Administration LBB Staff: UP, KK, SK, GO
LEGISLATIVE BUDGET BOARD
Austin, Texas
FISCAL NOTE, 83RD LEGISLATIVE REGULAR SESSION
April 1, 2013
TO: Honorable Kel Seliger, Chair, Senate Committee on Higher Education FROM: Ursula Parks, Director, Legislative Budget Board IN RE:SB1019 by Estes (Relating to the investment of funds by the governing boards of certain institutions of higher education.), As Introduced
TO: Honorable Kel Seliger, Chair, Senate Committee on Higher Education
FROM: Ursula Parks, Director, Legislative Budget Board
IN RE: SB1019 by Estes (Relating to the investment of funds by the governing boards of certain institutions of higher education.), As Introduced
Honorable Kel Seliger, Chair, Senate Committee on Higher Education
Honorable Kel Seliger, Chair, Senate Committee on Higher Education
Ursula Parks, Director, Legislative Budget Board
Ursula Parks, Director, Legislative Budget Board
SB1019 by Estes (Relating to the investment of funds by the governing boards of certain institutions of higher education.), As Introduced
SB1019 by Estes (Relating to the investment of funds by the governing boards of certain institutions of higher education.), As Introduced
No fiscal implication to the State is anticipated.
No fiscal implication to the State is anticipated.
Under provisions of the bill, if a governing board does not have under its control at least $25 million in book value of endowment funds, the governing board may contract to pool its funds described in this section with another institution that meets the $25 million in book value of endowment funds threshold established under Subsection (c), and have its funds invested by that governing board under prudent person standards. Based on response from institutions of higher education, the bill would not have a fiscal impact.
Local Government Impact
No fiscal implication to units of local government is anticipated.
Source Agencies: 710 Texas A&M University System Administrative and General Offices, 720 The University of Texas System Administration, 758 Texas State University System, 768 Texas Tech University System Administration, 769 University of North Texas System Administration, 781 Higher Education Coordinating Board, 783 University of Houston System Administration
710 Texas A&M University System Administrative and General Offices, 720 The University of Texas System Administration, 758 Texas State University System, 768 Texas Tech University System Administration, 769 University of North Texas System Administration, 781 Higher Education Coordinating Board, 783 University of Houston System Administration
LBB Staff: UP, KK, SK, GO
UP, KK, SK, GO