LEGISLATIVE BUDGET BOARD
                                   Austin, Texas
         
                                   FISCAL NOTE
                               75th Regular Session
         
                                  April 2, 1997
         
         
      TO: Honorable Carlos F. Truan, Chair            IN RE:  Senate Joint Resolution
                                                                No. 39
          Committee on International Relations, Trade & Technology                              By: Ellis
          Senate
          Austin, Texas
         
         
         
         
         FROM:  John Keel, Director    
         
In response to your request for a Fiscal Note on SJR39 ( Proposing 
a constitutional amendment allowing the Texas growth fund to 
continue to invest in businesses without requiring those businesses 
to disclose investments in South Africa or Namibia.) this office 
has detemined the following:
         
         Biennial Net Impact to General Revenue Funds by SJR39-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:   
                                         
                      LBB Staff:   JK ,TH