LEGISLATIVE BUDGET BOARD Austin, Texas FISCAL NOTE 75th Regular Session March 24, 1997 TO: Honorable Barry Telford, Chair IN RE: House Bill No. 2259 Committee on Pensions and Investments By: Gray House Austin, Texas FROM: John Keel, Director In response to your request for a Fiscal Note on HB2259 ( Relating to the establishment of and administration of a retirement fund for police officers in certain municipalities.) this office has detemined the following: Biennial Net Impact to General Revenue Funds by HB2259-As Introduced No fiscal implication to the State is anticipated. The bill would allow for the establishment of a police pension fund with a specified benefit structure by any city whose population was greater than 50,000. The cost to a city adopting a plan specified by the provisions of the bill would depend on whether the city currently has a police pension fund, and the comparative cost of providing benefits under the two plan structures. The City of Galveston estimates that adoption of this plan would have no fiscal impact for Galveston since the benefit structure is identical to their current police pension plan and the bill would allow them to transfer the assets from their current plan. Source: Agencies: 327 Employees Retirement System LBB Staff: JK ,PE ,WM