LEGISLATIVE BUDGET BOARD Austin, Texas FISCAL NOTE, 85TH LEGISLATIVE REGULAR SESSION May 10, 2017 TO: Honorable Kelly Hancock, Chair, Senate Committee on Business & Commerce FROM: Ursula Parks, Director, Legislative Budget Board IN RE:HB1003 by Capriglione (Relating to investment of public funds.), As Engrossed The bill would authorize eligible entities to expand investment options including investing inhedging contracts and insurance agreements. Depending upon the investment decisions thatwould be made by eligible entities, there could be an indeterminate financial impact to the state. The bill would amend Chapter 2256 of the Government Code, regarding public funds investment.For affected entities, the bill would amend regulations governing the types of investments inwhich entities could invest funds. The bill would modify criteria for determining if the chapter applies to an institution of higher education. Because the financial impact of investment decisions authorizedby the bill is unknown, the fiscal impact to state agencies is unknown. Local Government Impact According to the Texas Association of Counties, the fiscal impact cannot be determined. Source Agencies:304 Comptroller of Public Accounts, 347 Public Finance Authority, 580 Water Development Board, 601 Department of Transportation, 701 Texas Education Agency, 710 Texas A&M University System Administrative and General Offices, 720 The University of Texas System Administration LBB Staff: UP, CL, JJ, BRi
LEGISLATIVE BUDGET BOARD
Austin, Texas
FISCAL NOTE, 85TH LEGISLATIVE REGULAR SESSION
May 10, 2017
TO: Honorable Kelly Hancock, Chair, Senate Committee on Business & Commerce FROM: Ursula Parks, Director, Legislative Budget Board IN RE:HB1003 by Capriglione (Relating to investment of public funds.), As Engrossed
TO: Honorable Kelly Hancock, Chair, Senate Committee on Business & Commerce
FROM: Ursula Parks, Director, Legislative Budget Board
IN RE: HB1003 by Capriglione (Relating to investment of public funds.), As Engrossed
Honorable Kelly Hancock, Chair, Senate Committee on Business & Commerce
Honorable Kelly Hancock, Chair, Senate Committee on Business & Commerce
Ursula Parks, Director, Legislative Budget Board
Ursula Parks, Director, Legislative Budget Board
HB1003 by Capriglione (Relating to investment of public funds.), As Engrossed
HB1003 by Capriglione (Relating to investment of public funds.), As Engrossed
The bill would authorize eligible entities to expand investment options including investing inhedging contracts and insurance agreements. Depending upon the investment decisions thatwould be made by eligible entities, there could be an indeterminate financial impact to the state.
The bill would authorize eligible entities to expand investment options including investing inhedging contracts and insurance agreements. Depending upon the investment decisions thatwould be made by eligible entities, there could be an indeterminate financial impact to the state.
The bill would amend Chapter 2256 of the Government Code, regarding public funds investment.For affected entities, the bill would amend regulations governing the types of investments inwhich entities could invest funds. The bill would modify criteria for determining if the chapter applies to an institution of higher education. Because the financial impact of investment decisions authorizedby the bill is unknown, the fiscal impact to state agencies is unknown.
Local Government Impact
According to the Texas Association of Counties, the fiscal impact cannot be determined.
Source Agencies: 304 Comptroller of Public Accounts, 347 Public Finance Authority, 580 Water Development Board, 601 Department of Transportation, 701 Texas Education Agency, 710 Texas A&M University System Administrative and General Offices, 720 The University of Texas System Administration
304 Comptroller of Public Accounts, 347 Public Finance Authority, 580 Water Development Board, 601 Department of Transportation, 701 Texas Education Agency, 710 Texas A&M University System Administrative and General Offices, 720 The University of Texas System Administration
LBB Staff: UP, CL, JJ, BRi
UP, CL, JJ, BRi