LEGISLATIVE BUDGET BOARD
                              Austin, Texas
                                     
                    FISCAL NOTE, 77th Regular Session
  
                              April 5, 2001
  
  
          TO:  Honorable Dale B. Tillery, Chair, House Committee on
               Pensions & Investments
  
        FROM:  John Keel, Director, Legislative Budget Board
  
       IN RE:  HB2957  by King, Phil (Relating to authorized investments
               for certain public money.), As Introduced
  
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*  No significant fiscal implication to the State is anticipated.        *
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The bill adds letters of credit to the list of authorized investments
under Subchapter A of the Public Funds Investment Act.  Agencies that
manage the state's major investment funds indicate there would be no
significant fiscal impact.
  
Local Government Impact
  
No significant fiscal implication to units of local government is
anticipated.
  
  
Source Agencies:   327   Employees Retirement System, 781   Texas Higher
                   Education Coordinating Board, 701   Texas Education
                   Agency, 323   Teacher Retirement System, 304
                   Comptroller of Public Accounts
LBB Staff:         JK, RB, WP