LEGISLATIVE BUDGET BOARD
                                   Austin, Texas
         
                                   FISCAL NOTE
                               75th Regular Session
         
                                  March 27, 1997
         
         
      TO: Honorable Barry Telford, Chair            IN RE:  House Joint Resolution
                                                                No. 64
          Committee on Pensions and Investments                              By: Giddings
          House
          Austin, Texas
         
         
         
         
         FROM:  John Keel, Director    
         
In response to your request for a Fiscal Note on HJR64 ( Proposing 
a constitutional amendment allowing investment of money from 
the Texas growth fund in a business without the business's disclosure 
of its investments in or with South Africa or Namibia.) this 
office has detemined the following:
         
         Biennial Net Impact to General Revenue Funds by HJR64-As Introduced
         
No fiscal implication to the State is anticipated, other than 
the cost of publication.

The cost to the state for publication 
of the resolution is $71,000.
         

         
 
          
The fiscal impact on local government would be the normal cost 
of conducting local elections but no other fiscal implications 
to local governments are anticipated.
          
   Source:            Agencies:   307   Secretary of State
                                         
                      LBB Staff:   JK ,PE ,JC