Honorable Giovanni Capriglione, Chair, House Committee on Pensions, Investments & Financial Services
FROM:
Jerry McGinty, Director, Legislative Budget Board
IN RE:
HB4853 by Jetton (Relating to the authority to issue obligations to fund all or any unfunded liability by certain counties.), As Introduced
No significant fiscal implication to the State is anticipated.
The bill would amend the Local Government Code to provide Fort Bend County the authority to issue pension obligation bonds. It is assumed any costs associated with implementing the provisions of the bill could be absorbed using existing resources.
Local Government Impact
According to Fort Bend County, implementing the provisions of the bill would result in savings of an estimated $40 million over 20 years from investment earnings.