LEGISLATIVE BUDGET BOARD Austin, Texas FISCAL NOTE 75th Regular Session March 21, 1997 TO: Honorable Bill Ratliff, Chair IN RE: Senate Bill No. 515, Committee Report 1st House, Substituted Committee on Finance By: Moncrief Senate Austin, Texas FROM: John Keel, Director In response to your request for a Fiscal Note on SB515 ( relating to cash reserves in regional library systems) this office has detemined the following: Biennial Net Impact to General Revenue Funds by SB515-Committee Report 1st House, Substituted No fiscal implication to the State is anticipated. The bill would require the State Library and Archives Commission to include, in its rules, provisions stipulating a cash reserve requirement for regional library systems. The bill would allow regional library systems to retain up to five percent from annual system operation grant general revenue funds until the reserve requirement is satisfied. The funds would remain the property of the state and would be required to be returned upon termination of the commission's contract with the regional library system. The bill would be effective September 1, 1997. No fiscal implication to units of local government is anticipated. Source: Agencies: LBB Staff: JK ,RR ,JA