LEGISLATIVE BUDGET BOARD Austin, Texas FISCAL NOTE 74th Regular Session April 12, 1995 TO: Honorable Irma Rangel, Chair IN RE: Committee Substitute Committee on Higher Education for House of Representatives HouseBill No. Austin, Texas 1877 FROM: John Keel, Director In response to your request for a Fiscal Note on House Bill No. 1877 (Relating to the authority of the board of regents of The University of Texas System to delegate certain powers and duties of the board) this office has determined the following: The bill would grant the board of regents of The University of Texas System authority to delegate to others certain powers and duties of the board including investment operations currently performed by the system administration. The bill would allow the board of regents, with certain restrictions, to transfer investment operations to a nonprofit corporation. No fiscal implication to the State or units of local government is anticipated. Source: LBB Staff: JK, WRR