LEGISLATIVE BUDGET BOARD Austin, Texas FISCAL NOTE, 76th Regular Session April 23, 1999 TO: Honorable Bill Ratliff, Chair, Senate Committee on Finance FROM: John Keel, Director, Legislative Budget Board IN RE: SB1867 by Moncrief (relating to contributions to the State Pension Review Board), Committee Report 1st House, as amended ************************************************************************** * Estimated Two-year Net Impact to General Revenue Related Funds for * * SB1867, Committee Report 1st House, as amended: impact of $0 * * through the biennium ending August 31, 2001. * * * * The bill would make no appropriation but could provide the legal * * basis for an appropriation of funds to implement the provisions of * * the bill. * ************************************************************************** General Revenue-Related Funds, Five-Year Net Impact: **************************************************** * Fiscal Year Probable Net Positive/(Negative) * * Impact to General Revenue Related * * Funds * * 2000 $0 * * 2001 0 * * 2002 0 * * 2003 0 * * 2004 0 * **************************************************** All Funds, Five-Year Impact: ************************************************************************** *Fiscal Probable Probable Probable Revenue * * Year Savings/(Cost) from Savings/(Cost) from Gain/(Loss) from * * Teacher Retirement Employees Retirement State Pension Review * * System Trust Account System Trust Account Board Fund * * 0960 0955 0662 * * 2000 $(100,000) $(100,000) $200,000 * * 2001 (100,000) (100,000) 200,000 * * 2002 (100,000) (100,000) 200,000 * * 2003 (100,000) (100,000) 200,000 * * 2004 (100,000) (100,000) 200,000 * ************************************************************************** Fiscal Analysis The bill would require the Employees Retirement System and the Teacher Retirement System to make annual contributions of $100,000 each to the State Pension Review Board for services provided. Methodology The analysis assumes that the contributions will be made from the respective systems' pension trust funds. The bill specifies that the contributions will be deposited into the State Pension Review Board Fund in the state treasury. Local Government Impact No fiscal implication to units of local government is anticipated. Source Agencies: LBB Staff: JK, BB, SC