LEGISLATIVE BUDGET BOARD
                          Austin, Texas

                           FISCAL NOTE
                       74th Regular Session

                          March 31, 1995



 TO:     Honorable Kenny Marchant, Chair        IN RE:  House Bill No. 3109
         Committee on Financial Institutions            By: Romo
         House of Representatives
         Austin, Texas






FROM: John Keel, Director

In response to your request for a Fiscal Note on House Bill No.
3109 (relating to state agency reports to the bond review board
on bond transactions) this office has determined the following:

The bill would require that each entity that issues bonds,
including the Texas Public Finance Authority, report its bond
transactions to the Bond Review Board no later than March 15 and
September 16 of each year.


No fiscal implication to the State or units of local government
is anticipated.


Source:   Texas Public Finance Authority, Bond Review Board
          LBB Staff: JK, ML, RR