LEGISLATIVE BUDGET BOARD Austin, Texas FISCAL NOTE 75th Regular Session April 28, 1997 TO: Honorable Kenny Marchant, Chair IN RE: Senate Bill No. 358, As Engrossed Committee on Financial Institutions By: Brown House Austin, Texas FROM: John Keel, Director In response to your request for a Fiscal Note on SB358 ( Relating to the continuation and functions of the Credit Union Commission.) this office has detemined the following: Biennial Net Impact to General Revenue Funds by SB358-As Engrossed No fiscal implication to the State is anticipated. The bill would continue the Credit Union Commission for twelve years and set the next Sunset review at September 1, 2009. The amounts set for funding the Credit Union Commission are included in the General Appropriations Act as introduced by the 75th Legislature. For fiscal year 1998 the amount is $1,241,833 and for fiscal year 1999 the amount is $1,241,834. The appropriations would be funded from General Revenue. Sections 3, 9, 10, 11, 12, 13, 14, 15 and 17 of the bill would modify certain sections of the Texas Credit Union Act requiring the Credit Union Department to formulate or modify rules, policies and procedures. These activities are currently executed by existing agency personnel. No fiscal implication to units of local government is anticipated. Source: Agencies: 449 Finance Commission of Texas 116 Sunset Advisory Commission 304 Comptroller of Public Accounts LBB Staff: JK ,TH ,JD ,JA