LEGISLATIVE BUDGET BOARD Austin, Texas FISCAL NOTE, 85TH LEGISLATIVE REGULAR SESSION April 7, 2017 TO: Honorable Charles Schwertner, Chair, Senate Committee on Health & Human Services FROM: Ursula Parks, Director, Legislative Budget Board IN RE:SB81 by Nelson (Relating to the operations of the Cancer Prevention and Research Institute of Texas; authorizing a trust company to charge the institute an investment fee.), Committee Report 1st House, Substituted No significant fiscal implication to the State is anticipated. The bill would amend various codes relating to the operations of the Cancer Prevention and Research Institute of Texas (CPRIT); authorizing a fee. The bill would expand the definition for an appointed officer of a major state agency to include CPRIT's Oversight Committee under certain state ethics requirements. The bill would amend the limitations relating to grant awards for cancer prevention and control programs. The bill would allow the Oversight Committee to transfer management and disposition authority for interests in royalties, income, and other benefits to the Texas Treasury Safekeeping Trust Company (TTSTC), and allow the Oversight Committee to conduct a closed session relating to investment ownership. The bill would authorize the TTSTC to charge a fee to recover the reasonable and necessary costs incurred in managing CPRIT assets. The bill would repeal the requirements relating to disclosure of political contributions made by Oversight Committee members.The Cancer Prevention and Research Institute of Texas indicates that the duties and responsibilities associated with implementing the provisions of the bill could be accomplished within the agency's existing resources. This analysis assumes that any costs associated with managing investments will be offset by the fees that may be collected by TTSTC. Local Government Impact No fiscal implication to units of local government is anticipated. Source Agencies:304 Comptroller of Public Accounts, 542 Cancer Prevention and Research Institute of Texas LBB Staff: UP, KCA, NV, LBe
LEGISLATIVE BUDGET BOARD
Austin, Texas
FISCAL NOTE, 85TH LEGISLATIVE REGULAR SESSION
April 7, 2017
TO: Honorable Charles Schwertner, Chair, Senate Committee on Health & Human Services FROM: Ursula Parks, Director, Legislative Budget Board IN RE:SB81 by Nelson (Relating to the operations of the Cancer Prevention and Research Institute of Texas; authorizing a trust company to charge the institute an investment fee.), Committee Report 1st House, Substituted
TO: Honorable Charles Schwertner, Chair, Senate Committee on Health & Human Services
FROM: Ursula Parks, Director, Legislative Budget Board
IN RE: SB81 by Nelson (Relating to the operations of the Cancer Prevention and Research Institute of Texas; authorizing a trust company to charge the institute an investment fee.), Committee Report 1st House, Substituted
Honorable Charles Schwertner, Chair, Senate Committee on Health & Human Services
Honorable Charles Schwertner, Chair, Senate Committee on Health & Human Services
Ursula Parks, Director, Legislative Budget Board
Ursula Parks, Director, Legislative Budget Board
SB81 by Nelson (Relating to the operations of the Cancer Prevention and Research Institute of Texas; authorizing a trust company to charge the institute an investment fee.), Committee Report 1st House, Substituted
SB81 by Nelson (Relating to the operations of the Cancer Prevention and Research Institute of Texas; authorizing a trust company to charge the institute an investment fee.), Committee Report 1st House, Substituted
No significant fiscal implication to the State is anticipated.
No significant fiscal implication to the State is anticipated.
The bill would amend various codes relating to the operations of the Cancer Prevention and Research Institute of Texas (CPRIT); authorizing a fee. The bill would expand the definition for an appointed officer of a major state agency to include CPRIT's Oversight Committee under certain state ethics requirements. The bill would amend the limitations relating to grant awards for cancer prevention and control programs. The bill would allow the Oversight Committee to transfer management and disposition authority for interests in royalties, income, and other benefits to the Texas Treasury Safekeeping Trust Company (TTSTC), and allow the Oversight Committee to conduct a closed session relating to investment ownership. The bill would authorize the TTSTC to charge a fee to recover the reasonable and necessary costs incurred in managing CPRIT assets. The bill would repeal the requirements relating to disclosure of political contributions made by Oversight Committee members.The Cancer Prevention and Research Institute of Texas indicates that the duties and responsibilities associated with implementing the provisions of the bill could be accomplished within the agency's existing resources. This analysis assumes that any costs associated with managing investments will be offset by the fees that may be collected by TTSTC.
Local Government Impact
No fiscal implication to units of local government is anticipated.
Source Agencies: 304 Comptroller of Public Accounts, 542 Cancer Prevention and Research Institute of Texas
304 Comptroller of Public Accounts, 542 Cancer Prevention and Research Institute of Texas
LBB Staff: UP, KCA, NV, LBe
UP, KCA, NV, LBe