LEGISLATIVE BUDGET BOARD
                                   Austin, Texas
         
                                   FISCAL NOTE
                               75th Regular Session
         
                                  March 17, 1997
         
         
      TO: Honorable Patricia Gray, Chair            IN RE:  House Bill No. 1507
          Committee on Civil Practices                              By: Dutton
          House
          Austin, Texas
         
         
         
         
         FROM:  John Keel, Director    
         
In response to your request for a Fiscal Note on HB1507 ( Relating 
to limiting the liability of certain persons involved in an 
issuance of securities by a small business.) this office has 
detemined the following:
         
         Biennial Net Impact to General Revenue Funds by HB1507-As Introduced
         

No fiscal implication to the State is anticipated.
         

         
 
          
No fiscal implication to units of local government is anticipated.
          
   Source:            Agencies:   312   Securities Board
                                         
                      LBB Staff:   JK ,BB ,JA