LEGISLATIVE BUDGET BOARD Austin, Texas FISCAL NOTE, 87TH LEGISLATIVE REGULAR SESSION April 5, 2021 TO: Honorable Bryan Hughes, Chair, Senate Committee on State Affairs FROM: Jerry McGinty, Director, Legislative Budget Board IN RE: SB1158 by Kolkhorst (Relating to state contracts with and investments in social media companies that censor political speech.), As Introduced The fiscal impact of provisions that would prohibit certain state governmental entities from investing in social media companies that censor political speech and prohibit certain governmental entities from executing contracts with the same companies cannot be determined. The bill would amend the Government Code to prohibit state agencies from contracting with or investing in social media companies that censor political speech.The bill would require the Office of the Attorney General to prepare and maintain, and provide to each state governmental entity, a list of all social media companies that censor political speech. Under certain circumstances, the bill would require state pension systems and the Permanent School Fund to sell, redeem, divest, or withdraw publicly traded securities of a social media company that censors political speech. The bill requires reporting and provides that the Office of the Attorney General may bring any action necessary to enforce Chapter 809, Government Code.The fiscal impact of provisions that would prohibit certain state governmental entities from investing in or contracting with social media companies that censor political speech cannot be determined. According to the Employees Retirement System (ERS), the bill would have a negative indeterminate fiscal impact to the agency's programs and operations because it restricts the entities in which ERS can invest based on non-economic considerations, therefore potentially limiting the return of ERS investments. According to the Teachers Retirement System, the fiscal impact of the provisions of the bill on the pension fund cannot be determined. According to the Comptroller's Office of Public Accounts, the fiscal impact of the bill cannot be determined. According to the Office of the Attorney General and the Texas Emergency Services Retirement System, any additional work created though the provisions of this bill could be absorbed within existing resources.According to the Office of Court Administration, the General Land Office, and the Pension Review Board, no fiscal impact is anticipated from the provisions of the bill. Local Government ImpactThe fiscal implications of the bill cannot be determined at this time. Source Agencies: b > td > 212 Office of Court Admin, 302 Office of the Attorney General, 304 Comptroller of Public Accounts, 305 General Land Office, 323 Teacher Retirement System, 326 Tx Emergency Serv Retirement System, 327 Employees Retirement System, 338 Pension Review Board LBB Staff: b > td > JMc, SMAT, LCO, HGR, JPO
LEGISLATIVE BUDGET BOARD
Austin, Texas
FISCAL NOTE, 87TH LEGISLATIVE REGULAR SESSION
April 5, 2021
TO: Honorable Bryan Hughes, Chair, Senate Committee on State Affairs FROM: Jerry McGinty, Director, Legislative Budget Board IN RE: SB1158 by Kolkhorst (Relating to state contracts with and investments in social media companies that censor political speech.), As Introduced
TO: Honorable Bryan Hughes, Chair, Senate Committee on State Affairs
FROM: Jerry McGinty, Director, Legislative Budget Board
IN RE: SB1158 by Kolkhorst (Relating to state contracts with and investments in social media companies that censor political speech.), As Introduced
Honorable Bryan Hughes, Chair, Senate Committee on State Affairs
Honorable Bryan Hughes, Chair, Senate Committee on State Affairs
Jerry McGinty, Director, Legislative Budget Board
Jerry McGinty, Director, Legislative Budget Board
SB1158 by Kolkhorst (Relating to state contracts with and investments in social media companies that censor political speech.), As Introduced
SB1158 by Kolkhorst (Relating to state contracts with and investments in social media companies that censor political speech.), As Introduced
The fiscal impact of provisions that would prohibit certain state governmental entities from investing in social media companies that censor political speech and prohibit certain governmental entities from executing contracts with the same companies cannot be determined.
The fiscal impact of provisions that would prohibit certain state governmental entities from investing in social media companies that censor political speech and prohibit certain governmental entities from executing contracts with the same companies cannot be determined.
The bill would amend the Government Code to prohibit state agencies from contracting with or investing in social media companies that censor political speech.The bill would require the Office of the Attorney General to prepare and maintain, and provide to each state governmental entity, a list of all social media companies that censor political speech. Under certain circumstances, the bill would require state pension systems and the Permanent School Fund to sell, redeem, divest, or withdraw publicly traded securities of a social media company that censors political speech. The bill requires reporting and provides that the Office of the Attorney General may bring any action necessary to enforce Chapter 809, Government Code.The fiscal impact of provisions that would prohibit certain state governmental entities from investing in or contracting with social media companies that censor political speech cannot be determined. According to the Employees Retirement System (ERS), the bill would have a negative indeterminate fiscal impact to the agency's programs and operations because it restricts the entities in which ERS can invest based on non-economic considerations, therefore potentially limiting the return of ERS investments. According to the Teachers Retirement System, the fiscal impact of the provisions of the bill on the pension fund cannot be determined. According to the Comptroller's Office of Public Accounts, the fiscal impact of the bill cannot be determined. According to the Office of the Attorney General and the Texas Emergency Services Retirement System, any additional work created though the provisions of this bill could be absorbed within existing resources.According to the Office of Court Administration, the General Land Office, and the Pension Review Board, no fiscal impact is anticipated from the provisions of the bill.
Local Government Impact
The fiscal implications of the bill cannot be determined at this time.
Source Agencies: b > td > 212 Office of Court Admin, 302 Office of the Attorney General, 304 Comptroller of Public Accounts, 305 General Land Office, 323 Teacher Retirement System, 326 Tx Emergency Serv Retirement System, 327 Employees Retirement System, 338 Pension Review Board
212 Office of Court Admin, 302 Office of the Attorney General, 304 Comptroller of Public Accounts, 305 General Land Office, 323 Teacher Retirement System, 326 Tx Emergency Serv Retirement System, 327 Employees Retirement System, 338 Pension Review Board
LBB Staff: b > td > JMc, SMAT, LCO, HGR, JPO
JMc, SMAT, LCO, HGR, JPO