LEGISLATIVE BUDGET BOARD
                                   Austin, Texas
         
                                   FISCAL NOTE
                               75th Regular Session
         
                                  April 2, 1997
         
         
      TO: Honorable Barry Telford, Chair            IN RE:  Senate Bill No. 325, Committee Report 2nd House, as amended
          Committee on Pensions and Investments                              By: Armbrister
          House
          Austin, Texas
         
         
         
         
         FROM:  John Keel, Director    
         
In response to your request for a Fiscal Note on SB325 ( Relating 
to investments by the boards of trustees of local retirement 
systems for firefighters.) this office has detemined the following:
         
         Biennial Net Impact to General Revenue Funds by SB325-Committee Report 2nd House, as amended
         
No fiscal implication to the State is anticipated.
         

         
 
          
No fiscal implication to units of local government is anticipated.
          
   Source:            Agencies:   
                                         
                      LBB Staff:   JK ,PE ,SC