LEGISLATIVE BUDGET BOARD
                              Austin, Texas
                                     
                    FISCAL NOTE, 77th Regular Session
  
                              March 30, 2001
  
  
          TO:  Honorable Dale B. Tillery, Chair, House Committee on
               Pensions & Investments
  
        FROM:  John Keel, Director, Legislative Budget Board
  
       IN RE:  HJR94  by Mowery (Proposing a constitutional amendment to
               update and clarify the provisions governing the permanent
               university fund.), As Introduced
  
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*  The bill appears to use language which reinstates investment          *
*  restrictions limiting distributions from the Permanent University     *
*  fund to dividends and interest.  Should that limitation result,       *
*  funding distributed to the University of Texas and Texas A&M          *
*  University Systems would be significantly reduced.                    *
*  The cost to the state for publication of the resolution is $80,000.   *
*                                                                        *
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Local Government Impact
  
No fiscal implication to units of local government is anticipated.
  
  
Source Agencies:   720   The University of Texas System, 304
                   Comptroller of Public Accounts, 710   The Texas A&M
                   University System
LBB Staff:         JK, RB, DC