LEGISLATIVE BUDGET BOARD Austin, Texas FISCAL NOTE, 85TH LEGISLATIVE REGULAR SESSION May 9, 2017 TO: Honorable Larry Taylor, Chair, Senate Committee on Education FROM: Ursula Parks, Director, Legislative Budget Board IN RE:HB878 by King, Ken (Relating to the extension and modification of a public school district depository contract.), As Engrossed No fiscal implication to the State is anticipated. The bill would allow school districts and their depository banks to agree to extend a depository contract for additional two-year terms and to modify the contract for any extension. Local Government Impact Based on information provided by the Texas Education Agency, school districts that chose to extend their depository contracts beyond current statutory requirements could realize a savings resulting from less frequent requests for proposals for depository contracts. Depending on the decreased number of requests for proposals, such savings could be significant. Source Agencies:701 Texas Education Agency LBB Staff: UP, THo, AM, AH
LEGISLATIVE BUDGET BOARD
Austin, Texas
FISCAL NOTE, 85TH LEGISLATIVE REGULAR SESSION
May 9, 2017
TO: Honorable Larry Taylor, Chair, Senate Committee on Education FROM: Ursula Parks, Director, Legislative Budget Board IN RE:HB878 by King, Ken (Relating to the extension and modification of a public school district depository contract.), As Engrossed
TO: Honorable Larry Taylor, Chair, Senate Committee on Education
FROM: Ursula Parks, Director, Legislative Budget Board
IN RE: HB878 by King, Ken (Relating to the extension and modification of a public school district depository contract.), As Engrossed
Honorable Larry Taylor, Chair, Senate Committee on Education
Honorable Larry Taylor, Chair, Senate Committee on Education
Ursula Parks, Director, Legislative Budget Board
Ursula Parks, Director, Legislative Budget Board
HB878 by King, Ken (Relating to the extension and modification of a public school district depository contract.), As Engrossed
HB878 by King, Ken (Relating to the extension and modification of a public school district depository contract.), As Engrossed
No fiscal implication to the State is anticipated.
No fiscal implication to the State is anticipated.
The bill would allow school districts and their depository banks to agree to extend a depository contract for additional two-year terms and to modify the contract for any extension.
Local Government Impact
Based on information provided by the Texas Education Agency, school districts that chose to extend their depository contracts beyond current statutory requirements could realize a savings resulting from less frequent requests for proposals for depository contracts. Depending on the decreased number of requests for proposals, such savings could be significant.
Source Agencies: 701 Texas Education Agency
701 Texas Education Agency
LBB Staff: UP, THo, AM, AH
UP, THo, AM, AH