LEGISLATIVE BUDGET BOARD Austin, Texas FISCAL NOTE, 84TH LEGISLATIVE REGULAR SESSION May 5, 2015 TO: Honorable Joan Huffman, Chair, Senate Committee on State Affairs FROM: Ursula Parks, Director, Legislative Budget Board IN RE:HB1560 by Hernandez (Relating to investment options for property recovered in a suit by a next friend or guardian ad litem on behalf of a minor or incapacitated person.), As Engrossed No significant fiscal implication to the State is anticipated. The bill would amend the Property Code to authorize any money recovered in a suit by a minor or incapacitated person with no legal guardian and who is being represented by a next friend or appointed guardian to be invested in a higher education savings plan or a prepaid tuition program. Based on the analysis of the Higher Education Coordinator Board and the Comptroller of Public Accounts, duties and responsibilities associated with implementing the provisions of the bill could be accomplished by utilizing existing resources. Local Government Impact No significant fiscal implication to units of local government is anticipated. Source Agencies:304 Comptroller of Public Accounts, 781 Higher Education Coordinating Board LBB Staff: UP, AG, FR, GDz
LEGISLATIVE BUDGET BOARD
Austin, Texas
FISCAL NOTE, 84TH LEGISLATIVE REGULAR SESSION
May 5, 2015
TO: Honorable Joan Huffman, Chair, Senate Committee on State Affairs FROM: Ursula Parks, Director, Legislative Budget Board IN RE:HB1560 by Hernandez (Relating to investment options for property recovered in a suit by a next friend or guardian ad litem on behalf of a minor or incapacitated person.), As Engrossed
TO: Honorable Joan Huffman, Chair, Senate Committee on State Affairs
FROM: Ursula Parks, Director, Legislative Budget Board
IN RE: HB1560 by Hernandez (Relating to investment options for property recovered in a suit by a next friend or guardian ad litem on behalf of a minor or incapacitated person.), As Engrossed
Honorable Joan Huffman, Chair, Senate Committee on State Affairs
Honorable Joan Huffman, Chair, Senate Committee on State Affairs
Ursula Parks, Director, Legislative Budget Board
Ursula Parks, Director, Legislative Budget Board
HB1560 by Hernandez (Relating to investment options for property recovered in a suit by a next friend or guardian ad litem on behalf of a minor or incapacitated person.), As Engrossed
HB1560 by Hernandez (Relating to investment options for property recovered in a suit by a next friend or guardian ad litem on behalf of a minor or incapacitated person.), As Engrossed
No significant fiscal implication to the State is anticipated.
No significant fiscal implication to the State is anticipated.
The bill would amend the Property Code to authorize any money recovered in a suit by a minor or incapacitated person with no legal guardian and who is being represented by a next friend or appointed guardian to be invested in a higher education savings plan or a prepaid tuition program. Based on the analysis of the Higher Education Coordinator Board and the Comptroller of Public Accounts, duties and responsibilities associated with implementing the provisions of the bill could be accomplished by utilizing existing resources.
Local Government Impact
No significant fiscal implication to units of local government is anticipated.
Source Agencies: 304 Comptroller of Public Accounts, 781 Higher Education Coordinating Board
304 Comptroller of Public Accounts, 781 Higher Education Coordinating Board
LBB Staff: UP, AG, FR, GDz
UP, AG, FR, GDz