LEGISLATIVE BUDGET BOARD
Austin, Texas
FISCAL NOTE
74th Regular Session
March 12, 1995
TO: Honorable Ken Armbrister, Chair IN RE: Committee Substitute
Committee on State Affairs for Senate
Senate Bill No. 20
Austin, Texas
FROM: John Keel, Director
In response to your request for a Fiscal Note on Senate Bill No.
20 (Relating to transferring all powers and duties of the state
treasurer to the comptroller of public accounts.) this office has
determined the following:
The bill would transfer all the statutory powers and duties of
the state treasury to the comptroller of public accounts. The
bill would allow the comptroller to outsource activities
previously performed by the treasurer, unless the activity is a
sovereign function of the state.
The bill would transfer the all powers, duties,obligations,
rights, contracts, records, employees, property, and unspent and
unobligated appropriations and other funds of the state treasurer
to the comptroller.
The bill would continue the rules, policies, and procedures and
decisions of the state treasurer until superseded by an action of
the comptroller.
The Act would take effect on September 1, 1996, if the
constitutional amendment which abolishes the treasury is passed
by the voters.
The probable fiscal implication of implementing the provisions of
the bill during each of the first five years following passage
is estimated as follows:
Fiscal Net Savings to the Change in
Year General Revenue Number of State
Fund 001 Employees from
FY 1995
1996 $0
1997 160,000 (43.0)
1998 5,000,000 (133.0)
1999 7,417,000 (164.0)
2000 7,479,000 (164.0)
Similar annual fiscal implications would continue as long as the
provisions of the bill are in effect.
No fiscal implication to units of local government is
anticipated.
Source: Comptroller of Public Accounts, Treasury Department,
Texas Public Finance Authority
LBB Staff: JK, MS, DF