LEGISLATIVE BUDGET BOARD
                          Austin, Texas

                           FISCAL NOTE
                       74th Regular Session

                          April 12, 1995



 TO:     Honorable Barry Telford, Chair         IN RE:  Senate BillNo. 399,
         Committee on Pensions & Investments                 as engrossed
         House of Representatives                       By: Ellis
         Austin, Texas








FROM: John Keel, Director

In response to your request for a Fiscal Note on Senate Bill No.
399 (Relating to qualifications of the executive director of the
Teacher Retirement System of Texas.) this office has determined
the following:

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

    







Source:   LBB Staff: JK, SM, RR