LEGISLATIVE BUDGET BOARD Austin, Texas FISCAL NOTE 74th Regular Session March 19, 1995 TO: Honorable Ken Armbrister, Chair IN RE: Senate Bill No. 532 Committee on State Affairs By: Brown Senate Austin, Texas FROM: John Keel, Director In response to your request for a Fiscal Note on Senate Bill No. 532 (Relating to exempting contracts for certain services from retainage requirements applying to highway improvement contracts.) this office has determined the following: The bill would make no appropriation but could provide the legal basis for an appropriation of funds to implement the provisions of the bill. The bill requires the Department of Transportation to not retain 5% of the contract price if the contract is for engineering, designing, planning, or surveying services only. Current law allows for the retention of 5% of the contract price until the entire work has been completed and accepted. No significant fiscal implication to the State is anticipated. The fiscal implication to units of local government cannot be determined. Source: Department of Transportation LBB Staff: JK, ML, DF